Massively sad news for anyone across the world who loves Rock and Metal, especially for the 73 people who did all the work.
Team Rock came together just over three years ago when the company bought Metal Hammer, Classic Rock and Prog from Future Publishing. The final link in the chain was the radio station, the core team coming from Manchester’s Real XS (formerly known as Rock Radio). The whole operation was to be funded by subscriptions to Team Rock Plus and sponsorship of items and shows across the radio station, website and the magazines, eschewing radio adverts.
Unfortunately, the operation was damaged by the radio station leaving DAB, although it did save them £1 million per year. That wasn’t enough, though, as the losses mounted up despite drastic cost-cutting measures, with the company calling in the receivers and going into administration with debts of around £8 million.
The Wyrd Ways Rock Show would like to extend it’s condolences to the 73 former staff in London and Glasgow and all those who had the passion and commitment to try to make a go of Team Rock. Hopefully the magazines, at the very least can be saved.
Read more on the Daily Record website.