Media

Time Out sells 50% of the company to offshore conglomerate

Darren Atwater | Thursday 25 November, 2010 11:02

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Time Out, the 42 year-old tourist listings magazine has gone and sold 50 per cent of itself to Oakley Capital Investments. Oakley Capital is a Bermuda-based investment company, which trades on the AIM listings of the London Stock Exchange. Better hit your quarterly targets, guys!

Time Out’s publisher and founder, Tony Elliott, has been looking for an investor for several years now, having had to put £3 million of his own money to keep the company afloat in the past year. Time Out now has a weekly circulation of 58,275 copies.

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