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14 Sep 2009 07:00
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Date: 14Β SeptemberΒ 2009
On behalf of: Boomerang Plus plc ('Boomerang' or 'the Group')Β
Embargoed until: 0700hrsΒ
Boomerang Plus plcΒ
Boom Extreme Publishing acquires MethodΒ
Boomerang Plus plc (AIM: BOOM.L), a multi-genre, independent televisionΒ production groupΒ and leading producer ofΒ advertiser funded programmingΒ ('AFP')Β andΒ extreme sports content, is pleased to announce that itsΒ newly createdΒ subsidiary,Β Boom Extreme Publishing,Β hasΒ acquired Method,Β aΒ multimediaΒ publisherΒ offeringΒ snowboardingΒ news and action across print, motion, audio and interactive platforms.Β Β
BoomerangΒ hasΒ recognisedΒ the synergies between the financial model for publishing and digital media and the AFP model.Β Boom Extreme Publishing'sΒ objective is to seek opportunities with key publishing brands, help drive and develop multimedia concepts and build a digital media portfolio within the extreme sports spaceΒ using the Group's existing infrastructure and expertise. Boomerang isΒ best known in theΒ extreme sports arenaΒ for its award winning networkΒ showΒ Freesports on 4Β andΒ Big Freeze Ltd, a joint venture with Channel 4 to produce Freeze,Β theΒ annualΒ snowboarding championship festivalΒ at Battersea Power Station being held from 30 October to 1 November this year.
MethodΒ isΒ Europe'sΒ most successful and progressive snowboard magazine, supported by a website,Β www.methodmag.com,Β and an online TV channel, Method.TVΒ which has had more than 2 million video views since it was launched inΒ OctoberΒ 2006.Β The three-dimensional product provides a multimedia platform forΒ the ultimateΒ snowboarding experience.Β The team at Method has an incomparable passion for snowboarding and is exceptionally well known in the industry having been immersed within the sport for over 15 years.
Boom Extreme PublishingΒ appointed Luke Broadhurst as aΒ consultantΒ on the MethodΒ acquisition. Luke hasΒ extensiveΒ media sectorΒ experience in launching newΒ businesses, developingΒ concepts, and driving revenue growth. Luke willΒ continue to adviseΒ Boom Extreme Publishing asΒ its portfolio grows.Β
As an acquired entity of Boom Extreme Publishing,Β Method will be injected with the business acumen, support and directionΒ it requiresΒ fromΒ BoomerangΒ withΒ aΒ viewΒ to advance growth and capitalise on opportunities within the digital media market. Method will also provide an additional platform for Boomerang's high quality snowboarding content,Β including output from Freeze,Β andΒ provideΒ an additionalΒ revenue stream to the Group as a whole.Β
Gareth Rees, Executive Director of Boomerang Plus plc, said:Β
"We are extremely pleasedΒ toΒ welcomeΒ MethodΒ as part of our Group. ItΒ is one of the most credible brands in the EuropeanΒ extreme sportsΒ scene andΒ we are very excited to bringΒ publishingΒ andΒ TVΒ togetherΒ to take advantage of newΒ media platforms.
"The Group sees thisΒ acquisition as a natural and exciting extension to the business and realisesΒ the potential benefitsΒ and opportunities this could afford throughΒ variousΒ synergies.Β We have a firm development plan in place to aim to become the ultimateΒ snowboardingΒ media platformΒ inΒ EuropeΒ and beyond."
Rasmus Ostergaard, Managing Director of Method, said:
"I am delighted with theΒ BoomerangΒ deal.Β The Group's skilled professionals share our enthusiasm for snowboarding and are leading players within extreme sports production. Boomerang's expertise, creativity and business qualities will have a significant positive impact on our business.
"Long-term, it gives us a stronger foundation to project the Method brand to a bigger audience, and short-term, it helps us to focus on delivering high quality content both in print and online to our existing audience. It also enables us to focus on our advertisers needs for partnerships with media groups like us in print magazine, online and IPTV for the future growth of snowboarding."
- EndsΒ -
Contacts:Β
BoomerangΒ Plus plc
Gareth Rees, Executive Director ViaΒ Redleaf Communications
Redleaf Communications
Anna DunkinΒ /Β Samantha Robbins 020Β 7566 6731Β
boomerang@redleafpr.comΒ Β
Altium Capital
Tim Richardson/ Melanie Szalkiewicz 020 7484 4040
Evolution Securities
Adam Lloyd 020 7071 4317
Notes to Editors:Β
BoomerangΒ Plus
Boom Extreme Publishing
BaseΒ CampΒ MediaΒ
Method
For further information onΒ Boomerang PlusΒ plc, interviews,Β and publication quality images, pleaseΒ contact AnnaΒ DunkinΒ on 020Β 7566 6700Β or emailΒ boomerang@redleafpr.comΒ
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