It was confirmed today that Guardian Media Group (GMG) has bought a 14% stake in Development Hell, publisher of the music and entertainment magazine Word.
After much interest from other trade investors, the bosses at Development Hell decided that a tie with GMG would be ideal. Publisher, Jerry Perkins said: “It is a diverse media group and apart from being a perfect investor from a cash injection point-of-view, it provides a good route to market for
Word and other future launches we have in the pipeline.”
The founders of Development Hell, David Hepworth and Jerry Perkins are both former Emap executives who have a wealth of magazine experience between them. Combined, they have spent more than 35 years in the publishing arena and have been behind launches of lucrative titles such as Q, Heat and Empire.
The deal with GMG is already paying dividends for Development Hell, as advertisements placed in GMG’s flagship titles Guardian and The Observer has helped pushed sales of Word.
In March, GMG became the largest single shareholder in consumer magazine company Seven Publishing, acquiring a 27% stake (see GMG Takes 27% Slice Of The Delicious Pie).
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