BeBop Buys Madavor Media, Including Outdoor Photographer and Imaging Resource
Madavor Media, which owns multiple photography-centric publications including Imaging Resource, Digital Photo Pro, and Outdoor Photographer, has been acquired by music and theater-focused media platform the BeBop Channel.
File this one as a story that flew under the radar, but the purchase of Mavador by BeBop closed last month and all of Mavador’s many publications are now under new ownership. While Outdoor Photographer is named as one of the primary brands of the acquisition, BeBop’s press release reads as more excited about snapping up JazzTimes, which it calls “one of the most iconic Jazz magazines in the world.”
As Madavor was not publicly traded, the value of the acquisition was not disclosed. However, BeBop Channel says that the acquisition vastly increases its revenue by about 1,800%, or over $6 million, annually. Unlike Madavor, BeBop is publicly traded and currently has over 700 shareholders and is valued at around $1.00 per share and held an $8.7 million market cap prior to the acquisition on about $350,000 in revenue in 2022.
BeBop is now the parent company of Madavor, which it categorizes as a wholly-owned subsidiary. BeBop says that it has plans “to expand the experience of loyal readers and advertisers to embrace live and streaming video programming and events” linked to Madavor’s brands, with specific emphasis on JazzTimes.
BeBop’s focus on theater and music seems to put the multiple photography publications the corporation now owns in a strange spot, as the new owner does not have a history in the niche or even in general technology. It is also quite unusual for a company that pulled in $350,000 per year to acquire one that supposedly brings in around 18 times that.
BeBop was also the first Jazz company to go public, and it describes itself as particularly focused on continuing that legacy as well as “building a home” for dance and theater. It calls itself “The Global City for the Arts where Artistry Knows No Borders” but given its emphasis on the performing arts, it’s hard to see how most of what Madavor Media owned fits into that portfolio.
“We look forward to this journey to disrupt the way the arts are viewed, into the multi-billion dollar global industry it actually is, so buckle up,” Gregory Charles Royal, the interim CEO of BeBop, says regarding the acquisition.
Imaging Resource is one of the newer brands that Madavor picked up in recent years. After coming close to outright closing shop for good, Imaging Resource managed to find an owner in Mavador and was acquired in March of 2020.
The acquisition by BeBop marks the third owner in as many years for Imaging Resource, so hopefully, the new owner sees the value of what the brand provides especially in light of the recent announcement that Amazon is shuttering DPReview, the only other United States-based photo publication with a dedicated camera testing lab.
Update 3/24: Minor edits.
