Future announced it has completed the acquisition of NewBay Media for an initial net consideration of US$13.8million.
NewBay is an information and events business based in New York and London. It has a substantial B2B portfolio operating in verticals including TV, audio, electronics and education, publishing magazines such as Music Week, MCV and PCR. It’s business is mainly in the provision of conferences, magazines, events, digital content and data services. It also has a large consumer division in the Music vertical in the US, where it publishes magazines including Bass Player and Guitar World.
The deal expands Future’s reach into the US market and enhances its market leading position in music and consumer electronics. In addition, the acquisition brings B2B titles in the complementary verticals of audio visual, television broadcasting and educational technology, which will further increase Future’s revenue diversification model whilst also bringing B2B expertise to it’s existing titles.
The acquisition increases Future’s total owned brands to over 100 across print, events and online, with a total global reach of over 120m.
Zillah Byng-Thorne, CEO of Future, said: “NewBay is clearly aligned with Future in its mission to create content that connects, with market leading titles. This acquisition supports our strategy of growth organically and through acquisition, global expansion and revenue diversification. We have a proven track record of acquisition and successful integration. This deal will be earnings enhancing and drive further organic growth in revenue and profitability in the first full year.”
Steve Palm, President & CEO of NewBay, added: “The NewBay team’s expertise in engaging business decision makers, and providing solutions to sellers around the globe – through events, digital content, and marketing services – complements Future’s capabilities, creating a unique platform and exciting growth trajectory. This combination will result in new and better opportunities for both NewBay and Future partners to expand reach and depth of customer interactions throughout the buyer’s journey. Delivering data-driven brand and product awareness, thought leadership and demand for our partners will only be enhanced.
“I am proud of the many accomplishments made by the NewBay team over the last few years in the areas of events, marketing services and digital content, and I am equally excited to work alongside my new colleagues at Future to further grow our ability to delight our millions of users and thousands of partners.”
Future is a member of FIPP.
More like this
Meredith Corporation announced it has entered into a definitive agreement to sell the Time media brand to Marc and Lynne Benioff for US$190 million in cash. The transaction is subject to customary closing conditions and regulatory approval and is expected to close within 30 days.17th Sep 2018 Deals
Immediate Media Co today announces an agreement to acquire BBC Good Food - including the digital and live events businesses - from BBC Studios.3rd Sep 2018 Deals
HarperCollins Publishers has acquired world all-language rights to Christmas with Good Housekeeping. The book will be published on 18th October 2018.9th Aug 2018 Deals
Exponent today announced that it has reached an agreement to acquire Dennis Publishing. Dennis is the first investment to be made from Exponent’s fourth fund, Exponent Private Equity Partners IV, LP.31st Jul 2018 Deals
Since its acquisition of Rodale's portfolio of magazine titles in January, Hearst has been experimenting at Pennsylvania-based Runner's World and Bicycling, with new business models, new talent, new paper stock and bigger sizes, as well as proposed redesigns for both titles later this autumn.17th Sep 2018 Features
As South Asia warms up to ecommerce, magazines are getting in on the act. Say hello to mcommerce.10th Sep 2018 Features
The team behind Bauer’s weekly TV listing title TV Choice magazine are to launch a brand new magazine dedicated to the 80s.10th Sep 2018 Launches
As the flagship title of the Slow Journalism movement, the print magazine Delayed Gratification is often described as a kick-back against the hasty pace in which the 24/7 news cycle hunts clickbait, starts telling stories but often miss the end. But associate and founding editor, Matthew Lee says it’s much more than just that.17th Sep 2018 Features
“When I say strong, faster, better, I don’t just mean that as far as goals for the reader, it’s really what the magazine is about. We’re hopefully a stronger brand; we’re faster at processing things and in delivering information and inspiration to our readers; and we’re just constantly trying to get better. We’re embodying the values of the brand, which is self-improvement.” Richard Dorment, editor-in-chief, Men's Health13th Sep 2018 Features
Visit our Youtube channelFIND OUT MORE
FIPP newsletters allow you to keep up with industry trends, research, training and events across the worldFIND OUT MORE
What’s happening now, what’s coming next