The Intermedia Group, publisher of styleicons.com.au and INSTYLE and Professional Beauty magazines among others 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 hair and beauty, film, the liquor and hotel industries, hospitality, consumer electronics 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 highlighted the confluence of synergies as a key factor in making this decision.
“There are many synergies,” said Grover. “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.”
Justin Etheridge, Chief Executive of PDP, said “PDP and Time Out Sydney are very excited to be joining with Intermedia. Our titles complement each other perfectly – the combined readership figures and reach provide a very valuable proposition for advertisers.”
“Time Out Sydney’s website has grown by 1002% in the past year and our paid subscriber numbers have doubled in the last seven months. 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,” said Etheridge.