Time Out owner sells to Intermedia

Time Out SydneyThe owners of Time Out Sydney have sold a majority stake in the company to Intermedia Group, the publisher of Inside Film and various other B2B titles.  

Time Out’s Australian franchise is owned by Print and Digital Publishing. Time Out Sydney launched in 2007 as a weekly title, before moving to a fortnightly and then monthly frequency. However, during that time, traffic to the brand’s website has grown significantly to around 135,000 visitors per month.

Although PDP will probably move into Intermedia’s building, it will remain an independent company with the same team running Time Out including CEO Justin Etheridge and editor in chief Angus Fontaine. One reason for the deal is to help fund a push into other cities, with a soft launch of a Time Out Melbourne website this side of Christmas with a print product to follow. And the company is also launching a New Zealand product, starting with a guide to Wellington for Sydneysiders which hits the shelves shortly.

There is also potential for link-ups with other Intermedia Group titles. As well as the obvious synergies with Inside Film – which owns the IF Awards – Intermedia publishes National Liquor News and Bars & Clubs. Both companies run bar awards.

Etheridge said: “Our businesses complement each other perfectly – our ability to reach both consumers and trade decision-makers, in addition to our combined readership figures, provide a unique and very valuable proposition for advertisers.”

Time Out Sydney’s launch was a tough one, coming shortly before the advertising downturn began. And when it came to selling advertising, the title also met with stiff resistance from longer established rivals. Launch editor NiK Howe was poached by Fairfax to edit its Sport & Style supplement.

The move also marks as departure for Intermedia as its first full push into consumer publishing, although Inside Film already goes beyond a trade audience.


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