THE former boss of Glasgow-based Rock Radio has completed a £10 million takeover of Classic Rock and Metal Hammer magazines.
Billy Anderson, who launched Real Radio Scotland in 2001 and was the driving force behind the Rock Radio brand, is now chief executive of TeamRock, which has announced it has bought the two famous magazine titles from Future Publishing for £10.2m.
Mr Anderson, from Hamilton, South Lanarkshire, headed up the Scottish wing of Rock Radio until it was re-branded Real XS and has been involved in TeamRock with the firm's executive chairman, John Myers, ever since.
Mr Anderson and Mr Myers, the former chief executive of GMG Radio, describe TeamRock as "a new content creation and distribution business for rock fans around the world".
The TeamRock business will eventually have a base in Scotland, but existing jobs at Classic Rock and Metal Hammer in London will not be affected.
Mr Anderson said: "This is an idea I've been working on for around four years and the acquisition of these brands is the kick start to a much bigger process.
"This gives us the scope to move forward and also gives us credibility in the marketplace.
"Everyone in Europe and North America knows Classic Rock and Metal Hammer magazines.
"Nothing will change at the magazines and the jobs will all be retained. In fact, we'll be recruiting too.
"The plan is to build from Scotland but very much with a global eye.
"I've been in India, the Middle East, the USA and Europe researching the marketplace. But it will be built from Scotland."
TeamRock is also thought to be planning the purchase of further platforms in the coming days.
TeamRock secured the funding for the deal from Harwood Private Equity.
Mr Myers said: "This is a great business and is the first building block of our wider ambitions.
"We expect to announce further developments within the next day or so."
TeamRock has placed adverts for at least 12 jobs – including a commercial director and a head of broadcast – on its website and is also looking for a number of web developers, presenters and producers.
Mark Wood, chief executive of Future Publishing, said: "Classic Rock and Metal Hammer are highly-successful and well- managed parts of Future, but they have not been centre stage in our current growth strategy.
"They are great brands with a great team and I am confident they will continue to flourish under new investment from TeamRock."
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