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IF publisher acquires Time Out brand
[Thu 30/07/2009 09:41:38]
By Patrick Avenell
The Intermedia Group, publisher of Inside Film magazine, 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 consumer electronics, the liquor and hotel industries, hospitality 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 said the acquisition would produce many synergies.
“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,” he said.
Time Out was a media partner of the 2008 IF Awards and also supported a special screening of Mary & Max earlier this year to celebrate the IF Awards return to Sydney.
PDP chief executive Justin Etheridge said Time Out Sydney complements Intermedia's titles and the combined readership figures would appeal to advertisers.
"Time Out Sydney's website has grown by 1002 per cent in the past year and our paid subscriber numbers have doubled in the last seven months," he said.
"Recent events such as the Time Out Bar Awards, Time Out Sydney Comedy Festival Awards and our Bruno Premiere after-party have been hailed as major successes by both readers and sponsors. We will draw on Intermedia's strength to further this growth, both in terms of geography as well as new titles."
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