Future Publishing has confirmed its purchase of US content business Newbay Media for £13.8m, broadening the publisher’s reach across conferences, magazines, events, digital content and data services.
Based in New York and London, NewBay is an information and events business owning a substantial B2B portfiolio which operates in verticals such as TV and audio, electronics and education, publishing magazines like Music Week, MCV and PCR. Its business is mainly in the provision of conferences, magazines, events, digital content and data services.
The deal expands Future’s reach into the US market and enhances its position in music and consumer electronics. In addition the acquisition brings B2B titles in the complementary verticals of audio visual, television broadcasting and educational tech, which it is hoped will further increase Future’s diversification model.
The acquisition increases Future total owned brands to over 100 across print, events and online with a total global reach of over 120m.
Zillah Byng-Thorne, chief executive 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.”
Steve Palm, president and chief executive 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.”
The deal comes just weeks after Future announced it was buying five specialist consumer titles – Stuff, What Hi-Fi?, Four Four Two, Practical Caravan and Practical Motorhome – from Haymarket Media Group in a deal worth £14m.
Future has also recently consolidated its four music titles — Classic Rock, Metal Hammer, Prog and The Blues — under one umbrella brand, Louder. The consolidation comes with a shift in business models, with Louder squarely focusing on driving ticket sales to concerts and audio equipment rather than relying solely on display ad revenue.
Overall revenues from the publisher’s magazines division are continuing to decrease, however, the growth in revenue from its media division, with particular strength in the US, is starting to offset this decline.
Future Publishing Newsroom: Future plc Acquires NewBay Media for $13.8m