NewBay Media has acquired Develop publisher Intent Media, to create a new European operation.
The transaction between NewBay, which was formed in 2006 by the sale of United Business Media’s CMP Entertainment Media division, and Intent, which purchased several brands from United Business Media last year, brings several sister publications back under one roof.
These include Pro Sound News and Pro Sound News Europe, Systems Contractor News and Installation, and TV Technology (which now incorporates TV Broadcast) and TVB Europe.
The combined portfolio will offer readers, advertisers and partners unparalleled depth, breadth and reach into these vibrant, dynamic and international markets.
Intent Media founder and managing director Stuart Dinsey will continue his role under the new ownership, operating from offices in Hertford and London whilst driving further expansion.
“Intent has constantly expanded, becoming one of Europe’s biggest specialists in business media for entertainment markets,” said Dinsey. “Our entrepreneurial spirit and on-going ambitions fit perfectly with NewBay. Together, we look forward to exploring further growth opportunities.”
Steve Palm, President and CEO at NewBay, added: “Strategically, our plan has always included international expansion, and I am pleased that we were able to do this with a company that so perfectly complements our own portfolio and mission."
Full details of the acquisition can be found here.