UBM has sold music industry trade mag Music Week to Intent Media, a publishing company that already owns trade titles for the gaming, toys and mobile sectors.
UBM has been downsizing its magazine operations for a while, focusing more on its event and database businesses, while Intent Media has been acquisitive in this domain in recent years. Under the new deal, Intent will acquire four of UBM’s titles, so Television Broadcast Europe, Pro Sound News and Installation Europe as well as Music Week. The £2.4 million deal with see Intent also acquiring all the online and event-based spin-offs of these four titles. Up to 36 staff will move as a result of the sale, some to Intent’s Hertford HQ, though some will be based in the firm’s soon-to-open London offices in Islington.
Music Week recently went through a revamp under new Content Director Michael Gubbins, who has put more of the title’s online content behind a pay-wall while focusing on analytical rather than straight news editorial in the weekly print mag.