Magazine publisher TI Media has sold its music titles NME and Uncut to social music platform company Bandlab Technologies.
The deal, due to complete by the end of May, follows Bandlab’s purchase of The Guitar Magazine and Music Tech from Anthem Publishing in October last year.
All of NME and Uncut’s social, digital and print assets are included in the deal.
Staff are expected to transfer with the sale but remain at TI Media’s Blue Fin Building in London.
TI Media chief executive Marcus Rich said: “NME and Uncut will always have a special place in our story.
“Their reputation for stand-out, award-winning journalism spanning seven decades goes well beyond the world of music and I’m proud they’ve attained that status as part of our company.
“At the same time, we need to recognise that to achieve the next stage of their evolution, NME and Uncut will be better placed with a business that has music at its heart.
“Under Bandlab Technologies’ ambitious ownership and direction, I’m confident both of these truly iconic brands will thrive.”
NME went online-only in March last year as print production and distribution costs meant it was facing “ongoing losses”.
Rock magazine Uncut is still published in print monthly alongside its website, and its publishing schedule will not be affected by the sale.
Bandlab Technologies, which has its headquarters in Singapore, is a group of music brands based around the digital platform Bandlab, which “enables creators to make music and share the creative process with musicians and fans”.
Bandlab founder and chief executive Meng Kuok said: “We are very excited to welcome NME and Uncut to the BandLab Technologies family.
“These brands occupy a treasured place in the UK music landscape and increasing relevance to the global music scene, which we are looking to enhance and extend. These two media brands will play an important role in continuing our vision to create a connected world of music.
“We’re especially pleased to be welcoming an experienced and knowledgeable editorial and commercial staff, to deliver cutting-edge and opinion-driven content for music lovers everywhere.”
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