Future pays US$13.8m for information & events business New Bay Media
Future said the acquisition pushes its global reach to over 120m people across 100+ brands.
British-based global publishing company Future has paid US$13.8m for New York and London-based information and events business New Bay Media.
There is a further potential deferred consideration of up to US$5.60m in January 2019, depending on the future performance of the acquired business. New Bay generated EBITDA of US$4.2m in the year ending December 31, 2017.
New Bay has a B2B publishing portfolio across a number of verticals with one of the best known titles the UK publication Music Week. New Bay has a consumer division in the music vertical in the US where it publishes Guitar World and Bass Player.
Future said the acquisition pushes its global reach to over 120m people across 100+ brands in print, events and online.
