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Business

Specialist sports titles saved from collapse

Specialist sports magazines including MPORA, Dirt Mountain Bike, Sidewalk and Ride UK BMX have been saved as Factory Media’s intellectual property (IP) assets are snapped up.

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The media group owns a range of titles including skateboarding magazines

Established in 2006, Factory Media had grown its presence in the global media market through a series of acquisitions of outdoor sport and adventure publications, but decided to close print operations on all its titles in 2015 to focus on digital production.

Factory Media was first placed into administration in September 2018, but its IP assets have been bought by a global e-commerce retailer, through IP valuation firm Metis Partners.

Internet Fusion paid a six-figure sum for the assets which sees 15 publications saved along with a number of high-level jobs.

Aylin Dzhafer, senior manager of corporate recovery and restructuring at Metis Partners says: “The swift sale of Factory Media’s IP has generated a feel-good factor. We were able to preserve both key jobs and IP value in this extensive digital real estate.”

It gives us and our key partners the ability to give back to the customers who buy our products through providing rich, immersive content

Martin Brailsford of Internet Fusion adds: “As soon as we were aware of the opportunity to acquire the IP of Factory Media, we could see the great strategic fit with our current network of e-commerce websites.  

“It gives us and our key partners the ability to give back to the customers who buy our products through providing rich, immersive content in something they are passionate about. Completing the purchase in a timely manner whilst also safe guarding jobs was key.”

Michael Chamberlain, Factory Media’s administrator, comments: “Despite the financial problems that Factory Media had experienced, I immediately recognised that the key to having a chance of preserving some jobs and achieving a return to creditors was to dispose of the IP.

"Having worked with Metis before, I appreciated the expertise its team would bring to the disposal process.”

Martin Brailsford added: “We look forward to developing further the IP assets of Factory Media as part of the Internet Fusion family, and to ensuring continuity for the 5 million readers of its specialist publications.”

If you have a news story, email summer@linkpublishing.co.uk or follow us on Twitter to have your say.


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