Harpers sold to William Reed

UK drinks magazine Harpers is being sold to the William Reed Group for an undisclosed sum, sources confirmed today.

The weekly trade magazine, currently owned by Nexus Media, is thought to have been up for sale for several months, with William Reed keen to acquire the title.

There are concerns over how Harpers will fit into William Reed's existing portfolio, which already includes trade titles Wine & Spirit, Drinks International and Off Licence News.

There is also speculation as to how the deal will affect the International Wine and Spirit Competition, currently sponsored by Harpers. Both were previously owned by Nexus Media.

It is not yet known when the official handover will take place.