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Bath, Banes, United Kingdom, 2017/01/09 - Future plc has acquired the magazines, domain names, events, radio license and websites of Classic Rock, Metal Hammer, Prog, Blues and the Golden Gods for £800,000 from FRP Advisory, the administrators of Team Rock Limited - Futurenet.com. LSE: FUTR
In an exciting start to the new year, Future plc has acquired the magazines, domain names, events, radio license and websites of Classic Rock, Metal Hammer, Prog, Blues and the Golden Gods for £800,000 from FRP Advisory, the administrators of Team Rock Limited.
With their dedicated fanbase, these highly respected titles greatly complement the Future offering. The organisation is keen to preserve these iconic brands and harness their potential as part of the portfolio.
Audience satisfaction is a top priority at Future. By supporting these brands, consumers will continue to enjoy the brands’ editorial prowess alongside Future’s comprehensive portfolio of music titles. They will also see the advantages of Future’s strong events and digital resource pay dividends.
Classic Rock, Metal Hammer and Prog have magazines and dedicated channels within the Team Rock website. Blues features as an online channel on the Team Rock website and the Golden Gods is the events operation linked to Metal Hammer.
Zillah Byng-Thorne, Future Chief Executive said:
“The acquisition of these classic rock brands with their associated magazines, events and websites marks a further step in our buy and build strategy.
“It further reinforces our creation of a leading global specialist media platform with data at its heart, which we are monetising through diversified revenue streams.
“We look forward to developing further these iconic and much-loved brands and to continuing to serve their communities of dedicated enthusiasts around the world.”
Tom MacLennan, joint administrator and partner with FRP Advisory said:
“We are delighted to have sold the assets of Team Rock Limited to Future plc and wish the new owners every success. The deal took just three weeks to conclude, during which time FRP Advisory received extensive support for our efforts to find a buyer, for which we are very grateful.”