Monday, January 09, 2017

Hammer won't fall: Team Rock saved

Before Christmas, it looked like Metal Hammer and stablemates Classic Rock and Prog had published their last.

Good news for the new year, though, because Future Publishing, the previous owners of the titles, has stepped in to acquire Team Rock, the magazines and the websites:

“The acquisition of these classic rock brands with their associated magazines, events and websites marks a further step in our buy and build strategy,” said Zillah Byng-Thorne, chief executive of Future.

“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.”
Future has scooped the lot - including a radio licence - for just £800,000. Back in 2013, Future had sold just the magazines for £10.2million.

So, not perhaps a totally happy ending, as the business clearly isn't in a great shape - but there's hope, and in 2017, we need all the hope we can get.


No comments:

Post a Comment

As a general rule, posts will only be deleted if they reek of spam.