Viz publishers approached by mystery bidder

Magazine group I Feel Good, which publishes adult comic Viz and men’s title Jack, today revealed it had received an approach for the company.

The London-based group, which is headed by former Loaded editor and founder James Brown, is listed on the AIM market for junior companies.

I Feel Good (IFG) did not disclose the identity of the bidder but potential suitors could include Felix Dennis whose company Dennis Publishing owns several major UK and US titles including Maxim and The Week.

Mr Dennis already holds a small personal stake in IFG, understood to be around 7%, and was chairman until recently.

Industry observers have also pointed to contract publishing specialist Highbury House which recently expanded into consumer publishing with the acquisition of Cabal Communications, publisher of lads’ magazine Front.

Media giant Emap has also been highlighted as a potential bidder.

IFG shares have suffered amid the advertising slowdown which has hammered the entire media sector.

But today the stock gained almost 30% or 1.25p to hit 5.5p as excitement about the potential takeover grew.

IFG was launched by Mr Brown in 2000 with the publication of football fanzine Leeds, Leeds, Leeds and film title Hotdog.

The company received a tentative approach from an unnamed bidder last year but a deal never materialised.

In May 2001, IFG acquired publisher John Brown, bringing in Bizarre and Fortean Times alongside the adult comic Viz.

Men’s title Jack was the big launch of last year and is thought to be selling around 40,000 copies a month, although it has yet to release any official circulation figures.