The deal for the music titles, including the brands’ social, digital and print assets, is expected to complete by May 31.
Singapore-based BandLab Technologies is acquiring NME and Uncut as part of its plan to grow out a major global music media business. The brands will join its media division, which includes Guitar.com and MusicTech. The company previously held a 49% stake in Rolling Stone.
Marcus Rich, CEO, TI Media, said: “NME and Uncut will always have a special place in our story. Their reputation for standout, 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.”
Meng Kuok, founder and CEO of BandLab Technologies, 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.”
NME and Uncut staff are set to remain in the Blue Fin Building in London under the terms of the deal. There will be no interruption to Uncut’s monthly publishing schedule.