New York, NY (January 13, 2012)—Pro Sound News publisher NewBay Media LLC., has acquired the US Music Division, including Guitar World, Revolver and Guitar Aficionado, of Future US, Inc, the San Francisco-based subsidiary of Future plc.
The acquisition effectively 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.
The acquired, award-winning titles will join NewBay’s 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. 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.