Magazines. Anthem Publishing, of Bath, UK, is in advanced negotiations to sell its music-making magazines to Singapore-based BandLab Technologies. The deal involves: MusicTech, MusicTech Focus, The Guitar Magazine, Guitar Classics and associated digital operations. Transaction terms were not disclosed. Anthem, which last month acquired Women’s Running magazine, was founded 15 years ago by ex Future Plc publishers Jon Bickley and Simon Lewis. It operates in the music, food and mindfulness sectors and has twice been honoured as UK Independent Publishing Company of the Year. BandLab operates a digital service used by millions of music makers and fans around the world to make, share and collaborate in music. It was founded by Meng Kuok, the son of a Singapore agribusiness entrepreneur who co-owns the world’s largest palm oil producer. In addition to online music sharing and video streaming, Meng Kuok owns a Singapore-based guitar retailer and a music merchandise company in San Francisco. The move into music-making magazines follows his 2016 acquisition of 49% of Rolling Stone magazine for a reported $40m. The deal gave BandLab direct responsibility for the magazine’s currently 12 licensed editions worldwide. But Kuok’s bid to acquire overall control of the magazine was frustrated by the sale of the remaining 51% to Penske Media, of the US, which reportedly includes some degree of continuing editorial control by the founding Wenner family. In Penske’s Variety magazine, Kuok professed to being happy to “share” Rolling Stone and about the brand’s growth prospects generally: “It’s not just a media brand. It’s much more than that. It references and reflects, and also influences and sets the tone for pop culture. That gives it tremendous opportunities. It’s not a one-dimensional brand. It also has a chance to be a global brand.” BandLab is thought likely to acquire other magazines and digital media in Europe, Asia and the US.
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BandLab to buy Music-Tech from Anthem
