Time Out buys Spanish licensing partner

AIM-listed Time Out Group has acquired its Spanish licensing partner, 80 MES 4 PUBLICACIONS, for an undisclosed sum.

The business, which currently runs Time Out in three cities in Spain, will provide the company with further growth and monetisation opportunities across e-commerce, advertising and premium profiles.

The Time Out brand launched in Spain in 2008 to inspire people to make the most of Barcelona. Time Out Madrid followed in 2014 and Time Out Girona in 2016.

In August, Time Out added Singapore and Seoul to its global network of owned and operated businesses, which now comprises 76 cities in 20 countries. Including its licensing partners, Time Out has a worldwide presence in 108 cities across 39 countries.

Chief executive officer Julio Bruno said: "Time Out is hugely popular with both locals and visitors in Barcelona, Madrid and Girona. They are all vibrant, exciting cities and key travel destinations, making them great additions to our owned and operated network as we evolve Time Out as a worldwide digital, transactional business.

"I am delighted to welcome these very talented, successful teams to Time Out Group and to continue to inspire people to make the very best of those amazing cities."