Future sells Classic Rock and Metal Hammer to ‘prioritise international and digital’ products
Future has sold its UK rock titles Classic Rock, Metal Hammer and all associated brand extensions to Team Rock Limited.
The titles have been sold for a gross consideration of £10.2m (€12m), to be satisfied in cash on completion. Completion will occur on 16 April 2013.
Mark Wood, Future’s chief executive, said: “Classic Rock and Metal Hammer generate revenues predominantly from print. Their sale is in line with Future’s strategy of prioritising products which are international and digital. These two iconic print brands have not been central to that strategy and will thrive within a broader music business.”