Time Out Group acquires Time Out Australia
Global media and entertainment business Time Out Group has acquired Print and Digital Publishing Pty Ltd, its licensing partner which currently publishes Time Out in five cities across Australia.
Julio Bruno, CEO of Time Out Group said all existing Time Out Australia employees will continue to have jobs within the Time Out Group, and will remain in the Intermedia offices in Sydney.
Time Out’s Australian franchise sold a majority share to Intermedia Group in 2009, but Intermedia no longer has a stake in Time Out’s Australian operations.
Bruno said the acquisition – which includes print magazines in Sydney and Melbourne, mobile and social channels, and events – is part of the group’s ongoing global expansion and its evolution as a “worldwide digital, transactional business”.
He added there may be opportunities for Time Out Australia to collaborate with Intermedia going forward.
Michael Rodrigues, co-founder and CEO of Time Out Australia will become managing director Australia of Time Out Digital.
Rodrigues: New MD of Time Out Digital
Commenting on Time Out’s acquisition, Christine Peterson, CEO of Time Out Digital, said: “With the acquisition of Time Out Australia, we continue the global expansion of our iconic brand and our evolution as a worldwide digital, transactional business.
“I am delighted to welcome a very successful and trusted licensing partner and its team to our network of owned and operated businesses.
“We are all looking forward to continuing to grow the brand and help this engaged audience to discover, book and share the very best of Australia’s cities with our unique, curated content and local expertise,” she said.
Rodrigues said “joining the mothership” at this point gave the brand’s advertiser base access to key international markets.
“From humble beginnings in a warehouse apartment in Camperdown, our audience across multiple platforms has been in steady ascent.
“As the dominant urban media and entertainment brand, joining the mothership at this point gives our advertiser base something our rivals will never be able to offer – access to key international markets in Asia, like Hong Kong, and cities further afield like London, Paris, Chicago and New York.
“I look forward to this next exciting chapter which will see us leverage our global competitive advantage and further expand the brand across Australasia,” he said.
The latest acquisition follows Time Out Group’s addition of its licensing partner in Hong Kong to its owned and operated businesses in March.
Expansion?