The end of Prog Magazine?

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Tue Dec 20, 2016 12:07 am

  • From the Daily Record this evening

    73 jobs lost as publisher Team Rock enters administration

    Administrators said the Hamilton-based business, published a stable of rock music magazines as well as the rock music website www.teamrock.com and TeamRock internet radio, had traded at a loss "for a significant period of time".

    BYSCOTT MCCULLOCH
    17:43, 19 DEC 2016UPDATED18:02, 19 DEC 2016

    Publisher Team Rock Ltd has gone into administration with the loss of 73 jobs.

    The Hamilton-based business, founded in 2012, published a stable of rock music magazines as well as the rock music website www.teamrock.com and TeamRock internet radio.

    Team Rock had also acquired the Classic Rock, Prog and Metal Hammer magazines from Future Publishing in 2013 in a £10.2 million deal which took the Small/ Mid sized Deal of the Year at Insider's 2013 Deals and Dealmakers Awards.

    Appointed administrators from FRP Advisory said the business had traded at a loss “for a significant period of time, with consequent constraints on the cash position”.


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