Business Notes PUBLISHING

From the moment it appeared as a leading voice of the feminist movement in 1972, Ms. magazine has defied convention, punctured myths and helped to mold public opinion on women's issues with a sharp, witty and often bristling style. Despite its influence, however, the monthly (circ. 480,000) has rarely turned a profit. Turning to the Aussies for help, Co-Founders Gloria Steinem and Patricia Carbine announced they will sell the publication to the John Fairfax company, a major Australian communications conglomerate, for an undisclosed price believed to be as much as $15 million.

Fairfax (1986 revenues: $597 million) owns 53 newspapers and 79 magazines, including several other U.S. publications, and publishes jointly with Time Inc. the Australian edition of TIME. Steinem and Carbine will stay on for five years as consultants. Said Steinem: "This is the best thing for the magazine and for the women's movement."

One reason for choosing Fairfax, according to Steinem, was its women executives. The president of the firm's U.S. division is Sandra Yates, 40. Says she: "I absolutely believe we can make money on Ms." Anne Summers, 42, a well-known Australian feminist, will be the new editor in chief. Their initial goal for Ms.: a 35% increase in circulation, to 650,000, within five years.