The tie-up is the publisher's third joint venture in the UK and follows NatMags' deal with Rodale International in May. The new company, ACP-NatMag will be a 50:50 partnership and ACP will acquire a 50 per cent interest in NatMags' existing weekly, Best. The new company is looking to launch magazines together, and it is likely that Reveal, NatMags' women's weekly set to launch next year, will be part of the joint venture.
ACP is a division of the Australian media and entertainment group Publishing and Broadcasting Limited.
Colin Morrison, previously the chief executive of ACP in Australia, was hired as the chief executive of the new UK subsidiary. He will head ACP-NatMag alongside Jessica Burley, currently the group publishing director of NatMags' women's home and lifestyle division.
NatMags' parent company, Hearst, has a venture with ACP in Australasia through which it publishes Cosmopolitan, Harpers Bazaar and She.
Duncan Edwards, the managing director of NatMags, said: "I have made no secret of our desire to become a serious player in the weekly market and this venture represents a great way to achieve this."