Future Publishing has agreed the sale of its rock brands Classic Rock and Metal Hammer to Team Rock Limited, (TeamRock) – a new international multi-media content creation and distribution business chaired by ex-GMG Radio chief John Myers.
The £10.2m sale includes all the brand extensions of the magazines alongside branded events The Golden Gods and The Classic Rock Roll of Honour. According to rumours the turnover of the portfolio was c.£8.6m representing a multiple of turnover of 1.2x and equivalent to a contribution multiple of 5.7x
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