NEW YORK, NY (BRAIN) — New York-based NewBay Media LLC has bought the U.K.'s Intent Media Limited, the parent company of BikeBiz and other trade publications and events.
The purchase will aid NewBay's expansion outside the U.S. and allow the publisher to bring Intent's titles into the U.S., Steve Palm, president and CEO of NewBay, said in a company statement.
“The addition of Intent immediately enhances our ability to serve the broadcast, pro audio and AV markets," Palm said. "Further, Intent’s terrific team and operating platform open up new opportunities for global expansion of our powerful U.S. brands, as well as development of Intent’s market-leading gaming, music and computer/mobile retailing brands into the U.S.”
Palm did not mention BikeBiz specifically in his statement.
Intent's brands include Pro Sound News Europe, TVB Europe, Installation, MCV, and ToyNews.
Stuart Dinsey, Intent’s founder and managing director, will continue his role under the new ownership and will help manage NewBay’s European efforts, operating from Intent’s offices in Hertfordshire and London, the company said.
NewBay was formed in 2006 by the sale of United Business Media’s CMP Entertainment Media division. Intent purchased several brands from United Business Media last year, so the merger returns several sister publications back under one roof.
This is NewBay's sixth major acquisition in recent years. Earlier in 2012 the company bought several music titles from Future PLC, the owner of CyclingNews, BikeRadar and other cycling titles.
NewBay is an affiliate of The Wicks Group of Companies, L.L.C, a New York-based private equity firm.
