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.

Folding magazines: Classic Rock & Metal Hammer

This would be grim news at any time, but just before Christmas amplifies the grimness: Team Rock have Team Rock, who publish Classic Rock and Metal Hammer magazines, have called in the administrators:

Thomas Campbell MacLennan, Alexander Iain Fraser and Jason Daniel Baker of FRP Advisory LLP were appointed as Joint Administrators of Team Rock Limited (“the Company”) on 19 December 2016.

The affairs, business and property of the Company are being managed by the Joint Administrators, who act as agents of the Company and without personal liability.

The Company is being managed on a care and maintenance basis only whilst a buyer for the assets is sought. Accordingly, the TeamRock website will be unavailable for the foreseeable future.

The administrators are assessing the position regarding publication of magazines. If you are a subscriber to the Company’s publications the administrators can be contacted via email at teamrock.subscribers@frpadvisory.com.

27 people in Scotland and 46 in London have lost their jobs. According to the BBC report, Team Rock had been losing money for quite a while; they're hopeful the brands will find a buyer - and so hopefully some of those staff will be rehired.

Rock mags find new home

Classic Rock and Metal Hammer have changed hands, with the spectacularly named Team Rock purchasing the titles from Future.

Team Rock is led by John Myers:

Myers is executive chairman of the new company, TeamRock, which will create and distribute content to what it describes as the "large but under-served community" of rock music fans.

The new business is expected to announce more acquisitions in the next few days.

Under-served community? With the two titles here, plus a bunch of spin-off sister publications, and Bauer's Kerrang empire, and the Download Festival, and Absolute Classic Rock, I'm not sure I'd identify this as a market segment that is especially neglected, but good luck to anyone trying to build a magazine brand. You... you are interested in the print product, right?

TeamRock describes itself as a "new international multimedia content creation and distribution business" 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".

Oh.

NME response: Let's have another revamp

No, really: MediaGuardian is reporting that having revamped itself again and again, to the sound of disappearing readers, the response to the new drop in circulation is to, yes, have another revamp:

IPC Ignite publishing director Paul Cheal said NME would be revamped later this year.

"NME magazine sits at the heart of the brand and we are constantly sense checking what readers want and looking to evolve the magazine's content and design," Cheal added.

"With this in mind our editorial team are currently engaged in exciting development work which will come to market later this year."

A cynic might wonder, if the paper is so careful about finding out what its readers wants, and then delivering it, why are they vanishing?

MediaGuardian also points out that the NME's circulation has now fallen below that of Classic Rock for the first time.