|Global Metal Apocalypse||
Future plc (LSE: FUTR, "the Group" or "Future"), the international media group and leading digital business, has acquired the magazines, domain names, events, radio licence and websites of Classic Rock, Metal Hammer, Prog, Blues and the Golden Gods for GBP800,000 from FRP Advisory, the administrators of Team Rock Limited.On 19 December 2016 Team Rock Limited (“the Company” or “Team Rock”), owner of a stable of leading rock music magazines and leading rock music website www.teamrock.com, entered administration and administrators at FRP Advisory sought buyers for the business’s magazine titles and other assets of the business.
Tom MacLennan, Iain Fraser and Jason Baker, all partners at FRP Advisory, the business advisory firm, were appointed joint administrators of the Company and requested interested parties to make early contact.
Classic Rock, Metal Hammer and Prog have magazines and dedicated channels within the Team Rock website. Blues features as an online channel on the Team Rock website and Golden Gods is the events operation linked to Metal Hammer.
Tom MacLennan, joint administrator and partner with FRP Advisory said: “We are delighted to have sold the assets of Team Rock Limited to Future plc and wish the new owners every success. The deal took just three weeks to conclude, during which time FRP Advisory received extensive support for our efforts to find a buyer, for which we are very grateful.”
Zillah Byng-Thorne, Future Chief Executive said:
"The acquisition of these classic rock brands with their associated magazines, events and websites marks a further step in our buy and build strategy.
"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."
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Global Metal Apocalypse