Iconic UK music press NME and its monthly counterpart Uncut Magazine has been purchased by Singaporean music tech conglomerate Bandlab Technologies.
The company, which burst onto the scene as a start-up back in 2014, has made considerable progress in its five years of operations, with the comapny also owning the rights to media outlets Guitar.com and Music Tech as well as instrument manufacturers such as Heritage Guitars, Teisco, Harmony, gig bag kings Mono and more.
With the purchase of NME and Uncut, Bandlab Technologies look towards the integration of a more refined, comprehensive digital experience for music lovers and creators alike, with CEO Meng Kuok affirming these views in a press statement heralding the acquisition.
“We are very excited to welcome NME and Uncut to the BandLab Technologies family. 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. These two media brands will play an important role in continuing our vision to create a connected world of music," Kuok said.
“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.”
TI Media's CEO Marcus Rich, the now-former owners of NME and Uncut, celebrated the legacy of both musical mastheads in his own statement, as well as expressing his confidence in BandLab Technologies' 'music-first' approach to business - “NME and Uncut will always have a special place in our story. Their reputation for stand-out, award-winning journalism spanning seven decades goes well beyond the world of music and I’m proud they’ve attained that status as part of our company.”
“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,” Rich's statement read.
It's worth noting that this isn't the first time BandLab Technologies has purchased a major music magazine, with the company buying 49% of the rights to Rolling Stone back in 2016 before selling their stake entirely to Penske Media back in February this year.
Read more about BandLab Technologies here.