Time Out Group plc (“Time Out”, the “Company” or the “Group”) Announces Acquisition of Time Out Spain Licensing P...
September 05 2017 - 10:18AM
Business Wire
Time Out Group plc (AIM: TMO), the global media and
entertainment business with food and cultural markets, is pleased
to announce the acquisition of 80 MÉS 4 PUBLICACIONS, S.L. (“the
Acquisition”), the Group’s Spanish licensing partner who currently
runs Time Out in three cities in Spain.
The Time Out brand launched in Spain in 2008 to inspire and
enable people to make the most of Barcelona and has been constantly
growing ever since; Time Out Madrid followed in 2014 and Time Out
Girona in 2016. In each city, Time Out Spain has established
leading online, mobile and social channels, a Live Events programme
and in Barcelona, a highly-curated, free magazine.
The business, acquired with cash and deferred share
consideration, provides the Group with further growth and
monetisation opportunities across e-commerce, advertising and
Premium Profiles.
In August 2017, Time Out Group also added, at no cost, Time Out
Singapore and Time Out Seoul to its global network of owned and
operated businesses which now comprises 76 cities in 20 countries.
Including its licensing partners, Time Out has a worldwide presence
in 108 cities across 39 countries.
Julio Bruno, CEO of Time Out Group plc, said:
“Over the past several months, we have expanded Time Out Group’s
footprint around the world as we continue to deliver on our
strategy to grow our network of owned and operated businesses. We
now have a strong presence in APAC and the acquisition of Time Out
Spain will further consolidate our already significant presence in
Europe.
“Time Out is hugely popular with both locals and visitors in
Barcelona, Madrid and Girona. They are all vibrant, exciting cities
and key travel destinations, making them great additions to our
owned and operated network as we evolve Time Out as a worldwide
digital, transactional business. I am delighted to welcome these
very talented, successful teams to Time Out Group and to continue
to inspire people to make the very best of those amazing
cities.”
Eduard Voltas, General Manager Spain of Time Out
Digital:
“We are very excited to join the ‘Time Out mothership’ and to
open a new chapter for Time Out Spain as part of the Group’s
network of owned and operated businesses. The Time Out Spain team
is hugely talented and fully dedicated to inspiring people to get
the best out of our beautiful cities. We look forward to working
with our new colleagues across the globe to create unique content,
share our local expertise, further grow this iconic brand and to
deliver international advertising campaigns, something we’ve been
increasingly successful at as a licensing partner and we will
continue to focus on as part of Time Out Group.”
Notes to editors
About Time Out Group plc
Time Out Group is the leading global media and entertainment
business with a content distribution network comprising digital,
mobile, apps, social media and print and a physical presence via
Live Events and Time Out Market. Using these platforms and its
well-established global brand, Time Out seeks to inspire and enable
people to make the most of a city, through curated content around
food, drink, music, theatre, art, style, travel and entertainment.
Time Out, listed on AIM and headquartered in the United Kingdom, is
present in 108 cities and 39 countries and has a global monthly
audience reach of 156 million.
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Time Out Group plcJulio Bruno, CEORichard Boult,
CFOSteven Tredget, Investor Relations DirectorTel: +44 (0)207 813
3000orLiberum Capital Limited (Nominated Adviser and
Broker)Steve Pearce / Jill LiTel: +44 (0)203 100 2222orFTI
Consulting LLPEdward Bridges / Stephanie Ellis / Emma Appleton
/ Frances ElworthyTel: +44 (0)203 727 1000
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