NewBay Media LLC (“NewBay”) announced today that it has acquired Intent Media Limited (“Intent”). Intent produces business publications, websites and events targeted to the entertainment, technology and leisure markets. Its brands include Pro Sound News Europe, TVB Europe, Installation, MCV, and ToyNews, among many others.
JEGI CLARITY (www.jegiclarity.com) of New York, NY, the leading independent investment bank for the media, information, marketing, and technology sectors, represented Intent in this transaction and acted as Intent’s exclusive financial advisor.
“Strategically, our plan has always included international expansion, and I am pleased that we were able to acquire a company that so perfectly complements our own portfolio and mission,” states Steve Palm, President and CEO, NewBay. “The addition of Intent immediately enhances our ability to serve the Broadcast, Pro Audio and AV markets. Further, Intent’s terrific team and operating platform open up new opportunities for global expansion of our powerful US brands, as well as the development of Intent’s market-leading Gaming, Music and Computer/Mobile Retailing brands in the US.”
Intent will operate in parallel with NewBay’s existing business. Stuart Dinsey, Intent’s Founder and Managing Director, will continue in his role and will help manage NewBay’s European efforts, operating from Intent’s offices in Hertfordshire and London.
“Intent has constantly expanded, becoming one of Europe’s biggest specialists in business media for entertainment markets,” says Mr. Dinsey. “Our entrepreneurial spirits and ongoing ambitions fit perfectly with NewBay. Together, we look forward to exploring further growth opportunities.”
The transaction between NewBay, which was formed in 2006 by the sale of United Business Media’s CMP Entertainment Media division, and Intent, which purchased several brands from United Business Media last year, brings several sister publications back under one roof. These include Pro Sound News and Pro Sound News Europe, Systems Contractor News and Installation, and TV Technology (which now incorporates TV Broadcast) and TVB Europe. The combined portfolio will offer readers, advertisers and partners unparalleled depth, breadth and reach into these dynamic international markets.
This transaction marks the sixth major acquisition of brands by NewBay in as many years, having added 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, from Penton in February 2011, and from Future PLC in January 2012. All of the previously acquired titles continue to thrive as part of the NewBay Media portfolio.