IT Media sells 'Rip It Up'

By SIMON HENDERY

IT Media has sold enduring youth music magazine Rip It Up to a television production company.

Auckland-based Satellite Pictures, which produces TV2 music shows Squeeze and Space, has bought the 24-year-old magazine from the publishing and internet company.

Satellite is also involved in internet site development and event management.

Managing director David Rose said Rip It Up, the company's first publishing venture, would provide cross-promotional opportunities with the group's television and internet interests.

IT Media's publications include Rugby World, Fishing World, Creme, and the weekly Business Times.

The sale involved an undisclosed sum of cash and a half-page of advertising for IT Media in all future issues of Rip It Up .

AC Nielsen figures show the bi-monthly has a readership of 65,000.