Future acquires US content business NewBay Media
Future plc has completed the acquisition of NewBay Media LLC for an initial net consideration of $13.8 million.
NewBay is an information and events business based in New York and London. It has a substantial b2b portfolio, operating in verticals including TV and Audio, Electronics and Education, and publishes magazines including Music Week, MCV and PCR.
It also has a large consumer division in the Music vertical in the US, where it publishes magazines including Bass Player and Guitar World.
Zillah Byng-Thorne, CEO of Future, commented: “NewBay is clearly aligned with Future in its mission to create content that connects with market-leading titles. This deal will be earnings enhancing and drive further organic growth in revenue and profitability in the first full year.”
The deal expands Future’s reach into the US market. The acquisition brings b2b titles in the verticals of audio visual, television broadcasting and educational technology, which will further increase Future’s revenue diversification model, while also bringing b2b expertise to its existing titles.
Steve Palm, President and CEO of NewBay, added: “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.”
The acquisition increases Future’s total owned brands to over 100 across print, events and online, with a total global reach of over 120 million.