Future Plc expands music portfolio
January 16, 2017 10:22 AM
International media group Future plc has acquired brands Classic Rock, Metal Hammer, Prog, Blues and the Golden Gods from FRP Advisory, the administrators of Team Rock Limited.
The deal for 800,000 includes the events, magazines, domain names, radio license and websites of the portfolio, complementing Future's offering of music titles.
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.
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.