Last checked at 14 Sep 2009 07:00
Date: 14 September 2009
On behalf of: Boomerang Plus plc ('Boomerang' or 'the Group')
Embargoed until: 0700hrs
Boomerang Plus plc
Boom Extreme Publishing acquires Method
Boomerang Plus plc (AIM: BOOM.L), a multi-genre, independent television production group and leading producer of advertiser funded programming ('AFP') and extreme sports content, is pleased to announce that its newly created subsidiary, Boom Extreme Publishing, has acquired Method, a multimedia publisher offering snowboarding news and action across print, motion, audio and interactive platforms.
Boomerang has recognised the synergies between the financial model for publishing and digital media and the AFP model. Boom Extreme Publishing's 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 space using the Group's existing infrastructure and expertise. Boomerang is best known in the extreme sports arena for its award winning network show Freesports on 4 and Big Freeze Ltd, a joint venture with Channel 4 to produce Freeze, the annual snowboarding championship festival at Battersea Power Station being held from 30 October to 1 November this year.
Method is Europe's most successful and progressive snowboard magazine, supported by a website, www.methodmag.com, and an online TV channel, Method.TV which has had more than 2 million video views since it was launched in October 2006. The three-dimensional product provides a multimedia platform for the ultimate snowboarding experience. 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 Publishing appointed Luke Broadhurst as a consultant on the Method acquisition. Luke has extensive media sector experience in launching new businesses, developing concepts, and driving revenue growth. Luke will continue to advise Boom Extreme Publishing as its portfolio grows.
As an acquired entity of Boom Extreme Publishing, Method will be injected with the business acumen, support and direction it requires from Boomerang with a view 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, including output from Freeze, and provide an additional revenue stream to the Group as a whole.
Gareth Rees, Executive Director of Boomerang Plus plc, said:
"We are extremely pleased to welcome Method as part of our Group. It is one of the most credible brands in the European extreme sports scene and we are very excited to bring publishing and TV together to take advantage of new media platforms.
"The Group sees this acquisition as a natural and exciting extension to the business and realises the potential benefits and opportunities this could afford through various synergies. We have a firm development plan in place to aim to become the ultimate snowboarding media platform in Europe and beyond."
Rasmus Ostergaard, Managing Director of Method, said:
"I am delighted with the Boomerang deal. 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."
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Contacts:
Boomerang Plus plc
Gareth Rees, Executive Director Via Redleaf Communications
Redleaf Communications
Anna Dunkin / Samantha Robbins 020 7566 6731
boomerang@redleafpr.com
Altium Capital
Tim Richardson/ Melanie Szalkiewicz 020 7484 4040
Evolution Securities
Adam Lloyd 020 7071 4317
Notes to Editors:
Boomerang Plus
Boom Extreme Publishing
Base Camp Media
Method
For further information on Boomerang Plus plc, interviews, and publication quality images, please contact Anna Dunkin on 020 7566 6700 or email boomerang@redleafpr.com