Bauer extends deadline for magazine bidders

Bauer Media has extended the sale process of its magazine titles in New Zealand, citing the ‘‘volume of interested parties’’.

German-owned Bauer revealed earlier this year that it was closing its New Zealand business and selling off its magazines.

Among those on the block were New Zealand Woman’s Weekly, Next, North & South, New Zealand Listener, Metro, Taste, Fashion Quarterly, Your Home & Garden, Simply You, Home and the website noted.co.nz.

In a statement, a spokesperson said the process had been extended until the end of May. Non-binding offers can be submitted up to 5pm on Friday, May 29.

‘‘Subscribers have been informed of this delay and we’re hopeful that the sale process will be completed and subscriptions resumed as soon as possible.’’

In a letter to interested bidders, EY, which is handling the sale, said: ‘‘We do understand the broad desire from bidders to get the mastheads up and running as soon as possible. However, given the volume of interested parties . . . the vendor has elected to work through a process to assess a range of options together with a process that affords all parties a reasonable level of time to consider the opportunity appropriately.’’

The letter said the preference was still to sell the mastheads as one lot, or in four ‘‘families’’ such as the current affairs titles in one block.

Subscribers were told the delay was ‘‘good news for a positive outcome’’. But some potential bidders are understood to have been frustrated by the process and had backed away. EY said it would make no comment.

Remaining bidders for the magazines include Kowhai Media, which publishes New Zealand Geographic and is making an offer for the current affairs titles, and members of Bauer’s former staff, among others. NBR publisher Todd Scott said his interest in ‘‘at least three’’ of the Bauer titles was premised on first buying Stuff Ltd.