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Intermedia Acquires Time Out Magazine
[Thu 30/07/2009 11:20:31]
The Intermedia Group, publisher of Spice Magazine, HM (Hotel Management) Magazine, SpiceNews.com.au, among others has acquired Print and Digital Publishing (PDP), the local owner of the Time Out brand of magazines and websites.
This acquisition represents significant growth for the publishing, events and exhibitions company, with the Time Out titles complementing an existing stable of publications, covering diverse categories including special events, film, the liquor and hotel industries, hospitality, consumer electronics and logistics.
PDP, which will continue to operate as a separate entity within Intermedia, has the distribution rights to the Time Out brand in Australia and New Zealand. Time Out Sydney, the flagship consumer publication, focuses on food, wine, entertainment, theatre, culture and travel. It is currently distributed through selected newsagencies and licensed venues.
Overseas, the Time Out brand is a market leader in over 20 locations, including London and New York, where it has become an iconic title.
Most noticeably for Intermedia, this represents a substantial movement towards consumer publishing, with the majority of its current titles specialising in trade and industry content.
Intermedia Group managing director Simon Grover highlighted the confluence of synergies as a key factor in making this decision.
“There are many synergies,” he said. “A number of existing Intermedia titles, websites and events already have extensive advertising and editorial contacts within the consumer lifestyle and hospitality categories as well as a strong database of readers for increasing subscription revenue and wider distribution.”
This view echoes that of many retailers, who see resilience and longevity as key factors when deciding which brands to stock on their shelves.
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