Twenty-one years of age next month, Mizz has suffered from declines in circulation in common with the rest of the teenage sector.
According to ABC figures for the second half of 2005, Mizz had a circulation of 60,425, down 9.2% on the first half.
Panini UK publishes around 20 comics including Art Attack and Cartoon Network. It will invest in marketing and retail activity to strengthen Mizz's market positioning.
Mike Riddell, Panini UK managing director, said: "Mizz is a major prize for Panini UK and takes us into the exciting area of girls' teenage lifestyle magazines."
The sale follows the closure of IPC stablemate 19 in 2004 and Emap's Smash Hits earlier this year.
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