Time Out Group Acquires Time Out Chicago

NEW YORK, April 8, 2013 /PRNewswire/ -- Time Out Group today announced that its US affiliates have acquired Time Out Chicago, the go-to destination for everything new and next for the City of Chicago. Under the terms of the deal, Time Out Chicago will join Time Out Group's owned and operated portfolio that reaches key markets around the world, including London, New York, Los Angeles and Paris.

The acquisition will enable consumers to engage with Time Out Chicago content, products and services via the digital and mobile space, which will be developed for the brand. Time Out Chicago will continue to provide inspirational content that meets the needs of consumers and advertisers alike.

"Chicago offers something for everyone - from foodies and art aficionados to film fans and theater buffs and we will continue to provide expert recommendations and inspiration for all Chicagoans to get the most out of their city," said Jennifer Morgan, President of Time Out North America.

Aksel Van Der Wal CEO of Time Out added, "Chicago is an extremely valuable market for us and this acquisition underscores our continued commitment to expanding our digital offering, while remaining the source for authoritative, dynamic content."

Joe Mansueto owner of Time Out Chicago said, "Starting from nothing eight years ago, Time Out Chicago has built a large and loyal audience for its entertainment and cultural coverage.  I'm proud of our staff and the terrific work they did to get us to this point.  I look forward to the next stage of Time Out Chicago's growth as it becomes more fully integrated into its global parent."

The Time Out Chicago acquisition will accelerate Time Out Group's ongoing strategy to continue to build the international media organization in 50 cities, delivering its content, products and services to more than 50 million users around the world.

About Time Out

Time Out is the number one trusted choice for consumers seeking inspiration, information, and booking opportunities relating to arts, entertainment, and culture in the world's major cities.

Time Out was founded in 1968 in London, by Tony Elliott and has since grown into a global media group that spans 37 cities across 25 countries and provides the very best inspiration and information. 

Time Out is uniquely positioned as provider of local information and expert guidance to consumers through a distribution network which incorporates magazines, a massively growing online presence, mobile applications, events, and partnerships.  Time Out has a worldwide audience of over 20 million across all these channels, most recently launching its iPad app in New York and London. The company received recognition for its achievements within the industry earning the International Consumer Magazine of the Year title at the Periodical Publishers Association Awards two years in a row, in 2010 and 2011.

Time Out North America was established as a partnership between Time Out Group and North American based partners to launch Time Out New York in September 1995. Time Out North America now includes Time Out New York, Time Out New York Kids, the recently launched web property Time Out Los Angeles and Time Out Chicago.

In November 2010 Oakley Capital acquired a 50% stake in Time Out Group and in 2011 acquired a majority stake in Time Out North America. Oakley Capital is now the majority shareholder in both groups.

CONTACT:
Robin Schultz
Voce Communications
(650) 291-7809 | [email protected]

SOURCE Time Out Group