The predominantly B2B publishing house, Intermedia Group, has broadened its horizons by acquiring a majority stake in the Time Out brand in Australia, owned by Print and Digital Publishing.
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.
Whilst Time Out will be added to Intermedia's portfolio, which includes such titles as Professional Beauty, Inside Film and National Liquor News, it will continue to operate as a separate entity with the same team headed by Print and Digital Publishing CEO Justin Etheridge and editor in chief Angus Fontaine.
Of the collaboration, Etheridge said: "Our businesses complement each other perfectly - our newfound ability to reach both consumers and trade decision makers, in addition to our combined readership figures, provide a unique and very valuable proposition for advertisers."
"Time Out Sydney's website has grown by over 1000% in the past year and paid subscriber numbers have doubled in the last seven months. We will draw on Intermedia's strength to further this growth, both in terms of geography as well as new titles," added Etheridge.
When contacted by Publishing Edge, Intermedia Group managing director Simon Grover highlighted the confluence of synergies as a key factor in making this decision. "There are many synergies," he stated. "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."
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