NewBay Media LLC has acquired Intent Media Limited. Intent, based in the UK, produces business publications, websites and events within the entertainment, technology and leisure markets.
Intents brands include Pro Sound News Europe, TVB Europe, Installation, MCV, and ToyNews, among many others.
“Strategically, our plan has always included international expansion, and I am pleased that we were able to do this with a company that so perfectly complements our own portfolio and mission,” said Steve Palm, president and CEO, NewBay. “The addition of Intent immediately enhances our ability to serve the Broadcast, Pro Audio and AV markets. Further, Intent’s terrific team and operating platform open up new opportunities for global expansion of our powerful U.S. brands, as well as development of Intent’s market-leading Gaming, Music and Computer/Mobile Retailing brands into the U.S.”
Intent will operate in parallel to NewBay’s existing business. Stuart Dinsey, Intent’s founder and managing director, will continue his role under the new ownership and will help manage NewBay’s European efforts, operating from Intent’s offices in Hertfordshire and London.
“Intent has constantly expanded, becoming one of Europe’s biggest specialists in business media for entertainment markets,” Dinsey said. “Our entrepreneurial spirits and on-going ambitions fit perfectly with NewBay. Together, we look forward to exploring further growth opportunities.”
The transaction between NewBay, which was formed in 2006 by the sale of United Business Media’s CMP Entertainment Media division, and Intent, which purchased several brands from United Business Media last year, returns several sister publications back under one roof. These include Pro Sound News and Pro Sound News Europe, Systems Contractor News and Installation, and TV Technology (which now incorporates TV Broadcast) and TVB Europe.
“I have been impressed with every aspect of Intent’s business—I am excited to include these dynamic brands and talented team as part of the NewBay family,” added Palm. “Together with Intent, our ability to serve our readers, advertisers and partners is immediately expanded and enhanced.”
This marks the sixth major acquisition of brands by NewBay in as many years, adding select assets from United Business Media’s CMP Entertainment Media division in September 2006, from IMAS in July 2007, from Reed Business Information-US in December 2009, from Penton in February 2011, and from Future PLC in January 2012.
The Jordan, Edmiston Group, Inc. (JEGI), a leading independent investment bank, represented Intent in this transaction and acted as its exclusive financial advisor.