In yet another shift for traditional music print media, private equity company Epiris has this week announced a reported £130m deal to buy NME publisher Time Inc UK.
The acquisition of Time Inc’s UK business follows Epris buying its parent company in the US.
As one the key magazine publishers in the UK, the British wing of Time Inc publishes music titles NME and Uncut. Other magazines in its portfolio include Wallpaper, What’s On TV, TV Times, Soaplife, InStyle UK, Look and Marie Claire, which probably features less hair styling adverts than NME these days.
Confirmation of the Time Inc UK deal coincided with the news that NME Editor Mike Williams has decided to step down from the role with immediate effect. He says that after more than five years in the job he felt it was time to move on. Williams has edited the once iconic title since 2012, overseeing the music weekly during its major shift from being a paid for music magazine to a Time Out style free title with a wider entertainment remit- complete with advertorial from StubHub on secondary ticketing and yes, features on ‘How to get gig ready hair’ sponsored by VO5. A fall from grace by anyone’s standards.