Equity investors, CVC is planning to sell Australia's largest magazine publisher, Australian Consolidated Press to Germany's Bauer Media Group.

The announcement was received with much relief by the staff members, who believe that the new buyers know the publishing business well and might be good for the company instead of anyone else who would simply investment money to make more money.

Staff at ACP believes that Bauer is a family company much like ACP when it was new in the business. Steve Allen, the head of Essence Media & Fusion Strategy pointed out that its good for the company to go back under the family ownership because ACP thrived under such a model of ownership.

Some believe that the company will not focus all is energies on cutting costs and will look at the publishing at matured levels. The Bauer family has been linked to the publishing business since the 19th century. Bauer earned a name for itself in Germany in the 1960s and 1970s with various offerings like TV guides, mass-market women's and gossip rags, and erotic men's magazines.

Bauer currently owns several globally popular names and generates revenues of more than _2 billion.