This is awesome news! According to The Guardian, Future Publishing has struck a deal to buy TeamRock’s classic magazines, websites and events including 30-year-old Metal Hammer for £800,000. In case you forgot, Team Rock entered administration last December, and the future of the iconic magazine was unclear. The new deal with Future Publishing promises a future for the magazine, and has already given some of the laid off staff new jobs. Plus, ongoing negotiations could bring back more of the employees that were unfairly laid off at the end of the year.
Here’s what Zillah Byng-Thorne, chief executive of Future Publishing, had to say on the deal: “The acquisition of these classic rock brands with their associated magazines, events and websites marks a further step in our buy and build strategy. It further reinforces our creation of a leading global specialist media platform with data at its heart, which we are monetising through diversified revenue streams. We look forward to developing further these iconic and much-loved brands and to continuing to serve their communities of dedicated enthusiasts around the world.”
Read more about the agreement over at The Guardian, but give thanks to everyone at Future Publishing, because now Metal Hammer lives on!