Townsquare Media Group acquires music and comic book websites from AOL

townsquareTownsquare Media Group is to acquire AOL Music assets The Boot, The BoomBox and NoiseCreep as well as comic book website ComicsAlliance from AOL Inc. The new digital properties will join Townsquare Media Group’s national digital business, a portfolio of  music and entertainment websites. Terms of the deal were not disclosed.

“The acquisition of these assets from AOL represents the continued rapid growth of Townsquare Media’s aolportfolio of owned and operated music and entertainment websites,” commented Townsquare Media Group Chairman and CEO, Steven Price. “Adding these premium brands to Townsquare Media’s comprehensive offering propels our scale beyond today’s 52 million US monthly unique visitors, allowing advertisers and agencies even greater access to this highly engaged and demographically desirable audience.”

USA, Greenwich, CN & USA, New York, NY

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Future sells Classic Rock and Metal Hammer

futureplcFuture plc is to sell its UK rock titles Classic Rock, Metal Hammer and associated brand extensions to Team Rock Limited for £10.2m. The sale will be made on a cash-free and debt-free basis. Completion will occur on 16 April 2013.

As well as Classic Rock and Metal Hammer magazines, the sale includes associated periodicals Prog and AOR, as well as branded events The Golden Gods and The Classic Rock Roll of Honour.

The net sale proceeds will be used to reduce the level of bank debt and provide additional headroom under the Group’s new credit facility for further strategic digital investment. Future retains a portfolio of music-making titles and the musicradar.com website.

For the year ended 30 September 2012, the revenue, gross contribution and adjusted pre-tax profit attributable to these brands were £8.6m, £1.8m and £0.2m respectively. At 30 September 2012, the gross assets relating to these brands were £6.6m.

Mark Wood, Future’s Chief Executive, said: “Classic Rock and Metal Hammer generate revenues predominantly from print. Their sale is in line with Future’s strategy of prioritising products which are international and digital. These two iconic print brands have not been central to that strategy and will thrive within a broader music business.”

UK, London

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IMG acquires Taste Festivals from Brand events

IMG Arts & Entertainment, a division of the Events and Federations business unit of IMG Worldwide, the sport, entertainment and media company has acquired Taste Festivals from Brand Events Ltd for £4.97 million.

Brand Events launched Taste of London in 2004 with one event showcasing 26 restaurants at Somerset House. Taste now runs annual events in 17 cities across the globe, and works with more than 100 of the world’s greatest chefs.

Stephen Flint Wood, Senior Vice President & Managing Director IMG Arts & Entertainment at IMG, said, “IMG have witnessed the extraordinary rise in both the public’s love of great food and restaurants together with the ever growing demand for premium experiential events. We are excited about the potential to grow the business even further, and look forward to working with the team at Taste Festivals and our network of offices in over 30 countries to achieve this aim.”

Justin Clarke, Chief Executive Officer for Taste Festivals, said, “Our unique relationships with chefs, restaurants, brands and visitors have underpinned the Taste brands successful development. I am sure IMG will provide great support and new opportunities to the business and enable consumers around the world to engage with the world’s best restaurants and chefs in new and exciting ways.”

Taste Festivals will continue to operate from the same business premises at Earls Court London and the team will remain unchanged. Brand Events will also remain at Earls Court, and will continue to run Top Gear Live and Festivals, CarFest, Golf Live and Brand Events Australia.

UK, London

Universal Music gets approval to buy EMI’s recorded music business

UPDATE: Vivendi’s Universal Music Group has received EU regulatory approval to buy EMI’s recorded music unit for $1.9 billion after agreeing to sell record labels that bring in nearly a third of the British company’s revenues.

Original story: Universal Music could get approval to buy EMI’s recorded music business as early as tomorrow Posted on September 21, 2012