Mark Wood, Future Chief Executive:
Classic Rock and Metal Hammer are highly successful and well-managed parts of Future, but they have not been centre stage in our current growth strategy. They are great brands with a great team and I am confident they will continue to flourish under new investment from Team Rock.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.
Billy Anderson, TeamRock Chief Executive:
We are delighted to acquire these wonderful brands that will play a significant part in the development of our larger business. They come with a great team led by Chris Ingham and we look forward to investing further in their development.