London – U.K. magazine publisher Time Out has sold a 50%
stake to Oakley Capital Investments, a Bermuda-based private equity firm.
First
published in London in 1968, Time Out features entertainment listings and
original editorial content, and currently publishes 36 titles in 24 countries.
"I have considered many potential investors over the last seven years to
help the brand with the next phase of development and I believe that Oakley
Capital, with its entrepreneurial operational focus, will help us with
this," said Time Out founder Tony Elliott.
"I genuinely believe that
I have found a real partner for what I expect to be a hugely successful
worldwide digital journey."
Related Links:
http://www.bbc.co.uk/news/business-11844925
