International Boat Industry magazine and its associated websites and newsletters have been acquired by Boating Communications Ltd. from Time Inc. (UK) Ltd.
This follows Time Inc. UK’s decision in February to close its b2b marine division. Subsequently, Director Nick Hopkinson and three former members of staff – Edward Slack, Philip Pereira and Philippa Drysdale – negotiated an asset purchase through their company Boating Communications Ltd. which has been accepted by Time Inc. UK.
All four have been appointed directors of Boating Communications Ltd. and will have similar roles to the ones they were fulfilling with Time Inc. UK before the closure came into effect.
Nick Hopkinson, who helped launch IBI in 1968 and was the sole proprietor of the title for a number of years, said: “With no interruption to its publishing schedule, we are intent on providing the level of drive and investment in the business to ensure IBI remains a vital link and information source in print and online for the global leisure marine industry. We are also confident that following several very tough years the market is finally beginning to show signs of sustained growth which justifies this investment.
“I am looking forward to seeing IBI flourish during the next 50 years or at least a good part of it!”
Boating Communications Ltd. has also acquired the trademarks and publishing rights to Superyacht Business magazine, together with its website and newsletter, and the new owners said they soon expect to make a further announcement about the future of this title.