Intent Media, publisher for MCV and Develop, has been purchased by NewBay Media. NewBay now owns online game websites MCV and Develop, as well as Music Week, ToyNews and Bike Biz. The deal was mutual and both are excited that the move will expand both of their audiences.
"Strategically, our plan has always included international expansion," said NewBay CEO Steve Palm. "I am pleased that we were able to do this with a company that so perfectly complements our own portfolio and mission."
"The addition of Intent immediately enhances our ability to serve the Broadcast, Pro Audio and AV markets, Palm continued. "Further, Intent's terrific team and operating platform open up new opportunities for global expansion of our powerful U.S. brands, as well as development of Intent's market-leading Gaming, Music and Computer/Mobile Retailing brands into the U.S."
"Intent has constantly expanded, becoming one of Europe's biggest specialists in business media for entertainment markets," said Stuart Dinsey, Intent Media founder and current managing director. "Our entrepreneurial spirits and on-going ambitions fit perfectly with NewBay. Together, we look forward to exploring further growth opportunities."