Music magazines Classic Rock, Metal Hammer and Prog were salvaged by Future Publishing. As reported at the end of last year Team Rock went into administration in December resulting the halt of the aforementioned publications and 70 people losing their jobs. Future Publishing bought the magazines, events and license for the Team Rock digital radio service for £800,000 (while they were sold by them for £10,2 million in 2013). According to chief executive of Future Publishing, Zillah Byng-Thorne: “The acquisition of these classic rock brands with their associated magazines, events and websites marks a further step in our buy and build strategy. It further reinforces our creation of a leading global specialist media platform with data at its heart, which we are monetizing through diversified revenue streams. We look forward to developing further these iconic and much-loved brands and to continuing to serve their communities of dedicated enthusiasts around the world.” Last officially audited figures show that Classic Rock established in 1998, sold an average of 51,000 copies per month, while Metal Hammer, which was launched in 1986, 20,000.
