Time Out Group (LSE:TMO) has transferred its Spain media operations to RBA in a long-term franchise partnership that hands local publishing and editorial control to RBA while preserving Time Out's Market business in the country.
The deal positions Time Out, the global media and hospitality business, to scale its Spanish brand through RBA's local reach and multi-platform capabilities.
RBA operates more than 25 brands and reaches about 60 million people monthly, and Time Out noted RBA brings digital, experiential and distribution scale that complements Time Out's global audience of c.240 million, the company said.
Under the agreement, RBA will pay Time Out a franchise fee, Time Out's Spanish media team will transfer to RBA, operations will move to RBA's Barcelona and Madrid offices, where they will respectively operate the Time Out Barcelona and Time Out Madrid media brands, and the parties will collaborate on marketing and other initiatives.
The announcement describes the arrangement as a long-term franchise partnership and sets no further contractual milestones or financial figures in the release.
