Classic Rock and Metal Hammer sold for £10.2m
Posted by: dougie ()
Date: April 02, 2013 10:01PM

Taken from music week, did not see that one coming!

Future Publishing has agreed the sale of its rock brands Classic Rock and Metal Hammer to Team Rock Limited, (TeamRock) - a new international multi-media content creation and distribution business chaired by ex-GMG Radio chief John Myers.

The £10.2m sale includes all the brand extensions of the magazines alongside branded events The Golden Gods and The Classic Rock Roll of Honour.

TeamRock is a new company formed to 'provide and create premium content to rock music fans across the world via digital platforms and through the Classic Rock and Metal Hammer titles'. It is currently hiring in a number of positions.

Billy Anderson, TeamRock CEO said: “We are delighted to acquire these wonderful brands that will play a significant part in the development of our larger business. They come with a great team led by Chris Ingham and we look forward to investing further in their development.”

John Myers, TeamRock executive chairman, added: “This is a great business and is the first building block of our wider ambitions. We expect to announce further developments within the next day or so.”

Mark Wood, Future CEO, commented: “Classic Rock and Metal Hammer are highly successful and well-managed parts of Future, but they have not been centre stage in our current growth strategy. They are great brands with a great team and I am confident they will continue to flourish under new investment from Team Rock.”

TeamRock secured financing from Harwood Private Equity for the acquisition of the brands and the on-going development of the business.

Jeremy Brade, who led the transaction on behalf of Harwood Private Equity, says: “We are delighted to support the acquisition of the titles and the management team with its ambitious plans for the business.”

TeamRock was advised by Trillium Partners for the raising of financing and the acquisition of the brands.

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SubjectViewsWritten ByPosted
Classic Rock and Metal Hammer sold for £10.2m736 dougie 04/02/2013 10:01PM
Re: Classic Rock and Metal Hammer sold for £10.2m 466 rocknut 04/02/2013 10:17PM
Re: Classic Rock and Metal Hammer sold for £10.2m 399 Pelata 04/02/2013 10:27PM
Re: Classic Rock and Metal Hammer sold for £10.2m 385 backwhereubelong 04/02/2013 10:38PM
Re: Classic Rock and Metal Hammer sold for £10.2m 397 rocknut 04/02/2013 10:39PM
Re: Classic Rock and Metal Hammer sold for £10.2m 356 Pelata 04/02/2013 10:42PM
Re: Classic Rock and Metal Hammer sold for £10.2m 361 dougie 04/02/2013 10:44PM
Re: Classic Rock and Metal Hammer sold for £10.2m 324 rocknut 04/02/2013 10:47PM
Re: Classic Rock and Metal Hammer sold for £10.2m 318 rocknut 04/02/2013 10:45PM
Re: Classic Rock and Metal Hammer sold for £10.2m 307 Tony Bainbridge 04/02/2013 10:46PM
Re: Classic Rock and Metal Hammer sold for £10.2m 297 rocknut 04/02/2013 10:47PM
Re: Classic Rock and Metal Hammer sold for £10.2m 328 backwhereubelong 04/02/2013 10:47PM
Re: Praying Mantis 345 rocknut 04/02/2013 10:49PM
Re: Praying Mantis 280 backwhereubelong 04/02/2013 10:49PM
Re: Praying Mantis 272 rocknut 04/02/2013 10:58PM
Re: Praying Mantis 240 backwhereubelong 04/02/2013 11:04PM
Re: Praying Mantis 218 rocknut 04/02/2013 11:12PM
Re: Praying Mantis 217 backwhereubelong 04/02/2013 11:16PM
Re: Praying Mantis 224 rocknut 04/02/2013 11:20PM


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