Boss aims to be rocking all over the world with new enterprise

Specialist publisher Future sold the brands to TeamRock, a new company headed by chairman Mr Myers and chief executive Billy Anderson, which said it aims to create a “worldwide platform for this large but under-served community” of rock fans.

The deal also includes branded events, The Golden Gods and The Classic Rock Roll of Honour.

Mr Myers said more announcements were in the pipeline for TeamRock, which has secured financing from Harwood Private Equity for the acquisition and development of the business.

He added: “This is a great business and is the first building block of our wider ambitions. We expect to announce further developments within the next day or so.”

Mr Anderson said: “We are delighted to acquire these wonderful brands that will play a significant part in the development of our larger business.

“They come with a great team led by Chris Ingham and we look forward to investing further in their development.”

Future will use the proceeds to pay down debt and support further digital investment. The company reported a rise in earnings last year as digital investments began to pay off.

Mark Wood, chief executive, said the titles generated revenues predominantly from print and have “not been centre stage in our current growth strategy”.

“Their sale is in line with Future’s strategy of prioritising products which are international and digital,” he said.

Jeremy Brade, who led the transaction on behalf of Harwood Private Equity, said: “We are delighted to support the acquisition of the titles and the management team with its ambitious plans for the business.”

Trillium Partners advised TeamRock.

Mr Myers was born and raised in Carlisle and is regarded as one of the most influential people in the commercial radio industry.

The previous Government asked him to carry out a review of local radio in 2009 and some of his recommendations were included in the Digital Radio Act of 2010.