Hubert Burda Media, the German publishing group, is reviewing the media planning and buying account for Love It!, the women’s weekly it acquired from News International last week.
The magazine spent £1m this year although it is understood that it will increase to the “low millions” over the next year.
The account was handled in-house at News International, and HMB UK does not have an incumbent agency. The review will be led by Luke Patten, the company’s chief executive,The Love It! team will move into new offices in January, along with the company’s commercial and sales teams, with HMB UK’s other London-based title, Health & Fitness. It has another group of magazines based in Colchester.
Love It! had a circulation of 372,247, according to the Audit Bureau of Circulation figures for the first six months of the year. It was ranked tenth in the biggest selling women’s weeklies.
Patten says the family-owned German media owner is keen to pursue women’s interest titles in the UK.
The women’s weekly market has become increasingly overcrowded in recent years. Of the 25 titles published in the sector, just four reported gains in the last readership figures.
Only the top three titles – Take a Break, OK! and Closer – are safe from closure, says an industry source, as further cuts in advertising spend are expected across packaged goods sectors in 2009.