UK music media brands NME and Uncut have a new home – one with interesting existing ties to the entertainment industry.
Singapore-based BandLab Technologies has announced its acquisition of NME and Uncut from London-based TI Media. The deal – which includes the brands’ social, digital, print and experiential assets – is expected to complete by 31 May 2019.
BandLab previously owned 49% of Rolling Stone, before that brand was fully acquired by its majority partner, Penske Media Corporation (PMC) in January.
NME closed production of its weekly publication in March last year – ending its 66 year history as a physical magazine. The brand continues to exist online at NME.com.
Meng Kuok, founder and CEO of BandLab Technologies, said: “We are very excited to welcome NME and Uncut to the BandLab Technologies family.
“These brands occupy a treasured place in the UK music landscape and increasing relevance to the global music scene, which we are looking to enhance and extend. These two media brands will play an important role in continuing our vision to create a connected world of music.
“We’re especially pleased to be welcoming an experienced and knowledgeable editorial and commercial staff, to deliver cutting-edge and opinion-driven content for music lovers everywhere.”
Marcus Rich, CEO, TI Media, added: “NME and Uncut will always have a special place in our story. Their reputation for stand-out, award-winning journalism spanning seven decades goes well beyond the world of music and I’m proud they’ve attained that status as part of our company.
“At the same time, we need to recognise that to achieve the next stage of their evolution, NME and Uncut will be better placed with a business that has music at its heart. Under BandLab Technologies’s ambitious ownership and direction, I’m confident both of these truly iconic brands will thrive.”
It’s anticipated that all NME and Uncut staff will transfer with the sale and will continue to be based in the Blue Fin Building, London.
Last year, UK-based Anthem Publishing sold its music-making media portfolio – including MusicTech, MusicTech Focus, The Guitar Magazine, Guitar Classics, www.musictech.net and www.theguitarmagazine.com – to BandLab.
In 2017, BandLab also bought UK-based live video streaming startup Chew.Music Business Worldwide