Top UK music sites NME and Uncut have been sold to Singapore-headquartered BandLab Technologies. The music tech company’s lead product is a social music creation platform.
After 66 years, NME stopped printing its weekly magazine in March of 2018, but continued to publish online at NME.com. Both titles, acquired from UK-based TI Media will join Bandlab’s media division which includes Guitar.com and MusicTech.
The deal, which includes the brands’ social, digital, print and experiential assets, is expected to complete by 31 May 2019. It’s anticipated that all NME and Uncut staff will transfer with the sale and continue to be based in the Blue Fin Building, London.
“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,” said Meng Kuok, founder and CEO of BandLab Technologies. “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 will always have a special place in our story,” said Marcus Rich, CEO, TI Media. “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’s ambitious ownership and direction, I’m confident both of these truly iconic brands will thrive.”