Future saves Team Rock music brands from administration

Publisher Future has acquired the magazines, domain names, events radio licence and websites of Classic Rock, Metal Hammer, Prog, Blues and Golden Gods for £800,000 from administrators FRP Advisory.

Classic Rock, Metal Hammer and Prog have magazines and dedicated channels and Blues has an online channel within the Team Rock website. Golden Gods is the events operation linked to Metal Hammer.

Chief executive Zillah Byng-Thorne said: "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 monetising through diversified revenue streams.”

The share price fell 1.82% to 13.50p at 0924 GMT on Monday.