Radio World parent NewBay Media LLC is expanding its portfolio and international presence with the acquisition of Intent Media Ltd., based in the United Kingdom.
This brings to NewBay a group of publications and brands that target the business of several entertainment sectors including games; music; toys and licensing; mobile and computing; TV and audiovisual; and active lifestyle. Brands include Pro Sound News Europe, TVB Europe, Installation, MCV and ToyNews. Terms of the deal were not announced.
NewBay President/CEO Steve Palm said this offers opportunities for global expansion while also expanding Intent’s brands in its sectors to the United States.
Intent founder and Managing Director Stuart Dinsey continues with the company, based at its offices in Hertfordshire and London; other offices include Sydney, Mumbai and Stockholm. Intent has 90 employees.
NewBay noted that the agreement puts several former sister publications back together including Pro Sound News and Pro Sound News Europe; Systems Contractor News and Installation; and TV Technology/TV Broadcast and TVB Europe. Intent had purchased several titles last year from United Business Media, which earlier provided some assets in the deal that formed NewBay in 2006.
The company, part of private equity firm The Wicks Group, has pursued a strategy of acquisitions since its founding. It bought publications and brands from United Business Media’s CMP Entertainment Media division in 2006, from IMAS Publishing in 2007 (including Radio World), from Reed Business Information-US in 2009, from Penton in 2011 and from Future PLC in 2012. “All of the previously acquired titles continue to thrive as part of the NewBay Media portfolio,” it stated.