Future publishing has completed the acquisition of NewBay Media.
NewBay is an information and events business based in New York and London, and publisher of Residential Systems, among dozens of other publications. It has a substantial B2B portfolio operating in verticals including electronics and education, and TV and audio, where it publishes Broadcasting & Cable, the leading voice of authority in the television industry. Its business is mainly in the provision of conferences, magazines, events, digital content, and data services. It also has a large consumer division in the music vertical where it publishes magazines including Bass Player, Guitar World, and Electronic Musician.
“NewBay is clearly aligned with Future in its mission to create content that connects, with market leading titles," said Zillah Byng-Thorne, CEO of Future. This acquisition supports our strategy of growth organically and through acquisition, global expansion, and revenue diversification. We have a proven track record of acquisition and successful integration. This deal will be earnings enhancing and drive further organic growth in revenue and profitability in the first full year.”
The deal expands Future’s reach into the U.S. market and enhances its market leading position in music and consumer electronics. In addition, the acquisition brings B2B titles in the complementary verticals of audiovisual, television broadcasting, and educational technology, which will further increase Future’s revenue diversification model whilst also bringing B2B expertise to its existing titles.
“The NewBay team’s expertise in engaging business decision makers, and providing solutions to sellers around the globe—through events, digital content, and marketing services—complements Future’s capabilities, creating a unique platform and exciting growth trajectory," said Steve Palm, president and CEO of NewBay.
"This combination will result in new and better opportunities for both NewBay and Future partners to expand reach and depth of customer interactions throughout the buyer’s journey," Palm continued. "Delivering data-driven brand and product awareness, thought leadership, and demand for our partners will only be enhanced.
"I am proud of the many accomplishments made by the NewBay team over the last few years in the areas of events, marketing services, and digital content, and I am equally excited to work alongside my new colleagues at Future to further grow our ability to delight our millions of users and thousands of partners.”
The acquisition increases Future’s total owned brands to more than 100 across print, events, and online, with a total global reach of more than 120 million.