NewBay Media Acquires Guitar World, Revolver, and Guitar Aficionado from Future PLC
(Press Release) NEW YORK, NY (January 13, 2012) -- NewBay Media LLC (“NewBay”) announced today that it has acquired the US Music Division, including Guitar World, Revolver, and Guitar Aficionado, from Future US, Inc, the San Francisco-based subsidiary of Future plc.
The acquisition establishes NewBay Media as the world’s leading publisher of guitar magazines, digital media, and events. Reaching over 5 million music and audio professionals and enthusiasts every month, NewBay’s expanded network now offers unsurpassed reach and effectiveness for its advertisers and partners.
The acquired, award-winning titles will join NewBay’s large portfolio of Music and Professional Audio brands, including Guitar Player, Bass Player, Keyboard, Electronic Musician, Mix, Pro Audio Review, Audio Media, and Pro Sound News.
Guitar World is the largest guitar magazine in the world. It features artist interviews, gear reviews, and guitar news, as well as lessons and transcriptions in all popular genres. Revolver is the premiere heavy metal rock magazine with in-depth coverage of trend-setting artists, bands, and the heavy metal lifestyle. Guitar Aficionado, now in its third year, is the first magazine to celebrate the luxury lifestyle using the guitar as the common passion point. The annual Golden Gods Awards, Rock & Roll Roast, and a growing portfolio of Guitar Aficionado events will now be produced by NewBay.
“These titles, and the talented team behind them, have set a high standard for guitar enthusiast publishers around the world, and we are thrilled to welcome them into the NewBay family,” states Steve Palm, CEO, NewBay Media. “This acquisition furthers our goal to offer our readers and advertisers unparalleled depth and breadth within the music and pro audio communities.”
Mark Wood, CEO of Future plc, adds: "Guitar World, Revolver, and Guitar Aficionado are outstanding magazines that have made a tremendous contribution to Future's US business, which we are now refocusing. NewBay Media, with its strong market position and passion for music, is now the perfect home for these superb brands. I’d like to take the opportunity to thank the brilliant teams who will be leaving us and wish them every success at NewBay."
“The markets we serve are diverse and deep,” adds Palm, “as are the reach and editorial missions of all of our music brands. With only 5 percent overlap in circulation and distinctly independent editorial missions, we intend to continue to publish each of our existing and acquired magazines.”
This marks the fifth major acquisition of brands by NewBay in as many years, adding select assets from United Business Media’s CMP Entertainment Media division in September 2006, from IMAS in July 2007, from Reed Business Information-US in December 2009, and, from Penton in February 2011. All of the previously acquired titles continue to thrive as part of the NewBay Media portfolio.
The Jordan, Edmiston Group, Inc. (www.jegi.com) of New York, NY, an independent investment bank for the media, information, marketing services, and technology sectors, represented Future in this transaction and acted as its exclusive financial advisor.
For more information, contact:
Anthony Savona, VP/Communications Tel: 212-378-0450
Chris Taylor, Head of Communications
Tel: 020 7042 4033/
About NewBay Media LLC
NewBay Media's market leading brands are centered on five vertical markets -- Pro Audio, Broadcast & Video, Music, AV/Consumer Electronics and K-12 Education. NewBay publishes and produces more than 40 publications and show dailies, 50 websites, 30 daily and weekly E-Newsletters, three Expos and more than 50 custom publishing efforts, annually. NewBay reaches more than 8 million readers in print, online, and in person -- around the world in more than 100 countries. Additional information on NewBay can be found by visiting www.nbmedia.com.
NewBay is an affiliate of The Wicks Group of Companies, L.L.C. (www.wicksgroup.com), a New York-based private equity firm focused on selected segments of the communications, information and media industries.
About Future plc
Future plc. is an international special-interest media group and leading digital publisher, listed on the London Stock Exchange (symbol: FUTR). Founded in 1985 with one magazine, today we have operations in the UK, US and Australia creating 200 special-interest publications, apps, websites and events. We hold market-leading positions in Games, Film, Music, Technology, Cycling, Automotive and Crafts. Our biggest-selling products include T3, Total Film, Classic Rock, and Official Xbox Magazine. Our websites include gamesradar.com, bikeradar.com, musicradar.com and techradar.com (the UK’s number one consumer technology website). Future sells 2.9 million magazines each month; we attract more than 34 million monthly unique visitors to our websites; and we deliver over 100 digital editions and bespoke apps on tablet. Future exports or syndicates publications to 89 countries, making us the UK’s number one exporter and licensor of magazine content. Future was named Consumer Digital Publisher of the Year at the Association of Online Publishers Awards 2011.