The publisher of PC Powerplay and HYPER has been taken over by Forum Media Group, based in Bavaria/Germany.
Next is Australia's fourth largest consumer publisher, and changes hands from previous owners Wolseley Private Equity.
David Gardiner, CEO of Next, said:“Since the establishment of Next we have aggregated and grown the business, both organically and by acquisition and licence."
"We are all very excited about the partnership with Forum and the opportunities for the business and our staff. We will continue further growth and expansion, driven by a common vision and a strong belief in success.”
Gardiner will remain as CEO of Next, and he and Commercial Director Bruce Duncan will retain a commercial interest in the company. James Todd, MD of Wolseley, will sell his stake.
Forum employs 780 people and operates both digital and print properties in business to business and consumer channels.
As of now, no changes to Nextmedia and its staff have been reported, with business as usual still being the case at the company's two gaming magazines.