Country-Wide Publications is being sold to NZX for an undisclosed sum.
CPL Owners Dean Williamson and Tony Leggett, who bought CPL in 1997, have grown the business to produce 78 publications a year under seven mastheads, and from a turnover of $250,000 in 1997 to over $7 million in 2008. CPL publications reach all 86,000 farmers in New Zealand at least once every week.
Roarprawn doesn’t think it’s a good investment, but I do.
All are give aways which are delivered to rural mail boxes and all are quality publications which concentrate on rural news, issues and features. Unlike some giveaways the majority of their stories are fresh rather than rehashed press releases, are well read by farmers and attract good suppport from advertisers.
The CPL media relesase says:
Dean Williamson said, “This is an exciting next step for both the CPL business and the rural sector as a whole. Bringing NZX and CPL together creates a raft of new opportunities. Both are innovative companies focused on growth.”
Tony Leggett said, ” We understand our market and our business model reflects that. We give farmers the information they need, and astute advertisers appreciate that. We focus on value.
“Print media remains the right medium to reach farmers at this point in time. As we see increased broadband penetration in rural areas, we are likely to see more interest in our online offerings and will continue to develop products in this space,” said Leggett.
CPL operations will remain based in Feilding, managed by Dean and Tony. “This is a long term investment in the New Zealand rural sector,” said Weldon.
This isn’t the NZX’s first foray into rural business, it already owns Agrifax, Dairy Week and Pro-Farmer Australia.