Time Out sell 50% share to investment firm
The brand now has an estimated worldwide audience of over 17m
Time Out has sold a 50 per cent stake in the business to Bermuda-based private equity firm Oakley Capital Investments.
The undisclosed investment from the AIM-listed company marks the end of a lengthy search for capital by the magazine's founder Tony Elliott.
Elliott said: "I have considered many potential investors over the last seven years to help the brand with the next phase of development and I believe that Oakley Capital, with its entrepreneurial operational focus, will help us with this.
"I genuinely believe that I have found a real partner for what I expect to be a hugely successful worldwide digital journey."
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