Time Out Group Appoints Julio Bruno As Executive Chairman And Noel Penzer As CEO

LONDON, Sept. 30, 2015 /PRNewswire/ -- Time Out Group, the trusted global brand for inspiring and enabling people to make the best of their city, announced today the appointment of Julio Bruno as Executive Chairman of Time Out Group and Noel Penzer's promotion to CEO of the Group.

The appointments of Julio and Noel to their new roles come as Time Out looks to capitalize on its momentum as the company has grown and expanded to 107 cities across 38 countries with an audience of nearly 40 million per month across multiple platforms. Time Out has developed and rolled out a number of new digital commercial products, including new cross-platform native advertising solutions, Premium Profiles and in-venue mobile payment solutions (via the recent strategic investment in Flypay), underpinning a full commercial offering to Time Out's partners, from global brands to local businesses.

Julio brings a significant amount of international experience having built and scaled global organizations in diverse sectors, from travel and technology to digital media and e-commerce. He was Global Vice President of Sales at TripAdvisor leading the global expansion of Business Listings; and previously held senior executive roles at Travelport, Regus and Diageo, as well as working with a number of technology startups in different board and advisory positions, and as an investor. Julio Bruno will be based between London and New York.

Noel Penzer joined Time Out as Managing Director Europe in April 2015 from AOL where he oversaw all AOL properties in Europe, including Huffington Post and TechCrunch. Noel was later promoted to the position of President of the Time Out Group. The appointment of Noel as Time Out's CEO further strengthens the executive leadership of the Group.

Time Out is well positioned to benefit from the ongoing growth and demand of consumers looking for real time local entertainment, inspiration, booking and payment via its mobile platform.

Founded in 1968, Time Out is now a multi-platform media business with a unique global content distribution platform comprising free magazines, mobile apps and website, live events and our new Time Out Market subsidiary. The Time Out platform now reaches its largest audience ever of nearly 40 million users per month of which the largest majority are millennial users on their smart phones looking for inspiration and activities in the world's greatest cities. The Time Out platform has achieved double digit annual digital audience growth since 2011, with particularly significant growth on mobile, a platform that lends itself well to Time Out's unique and entertaining content curating the best of the city. Time Out consumers are looking for the trusted opinion of the best city activities, whether that be curated by our editorial team, community managers, bloggers or our unique global network of tastemakers.

During the course of 2015 the business finalized the transition of its core consumer print products into free magazines in London, New York and Chicago, and now has over one million weekly readers across these cities. It also announced earlier this year the expansion of the successful Time Out Markets food and culture concept in Lisbon, and will be exploring to open markets in cities such as London, New York, Dubai, Sydney, Berlin and Shanghai.

Julio Bruno commented: "I'm very excited to join Time Out's Board and lead the executive team, and look forward to working with Noel and the team on the next stage of growth. Time Out currently covers 107 cities in 38 countries and I believe that the Time Out brand and our unique content approach will reach an even larger audience. Over the next few years we have exciting plans to roll out our digital products globally as well as our unique Time Out Markets concept. As I see it Time Out is the Global Source for Local Entertainment, and I am very pleased to be joining at this exciting moment in time to lead this organization to greater heights."

Peter Dubens, Managing Partner of Oakley Capital, the majority shareholder of Time Out, commented on the appointment: "Julio Bruno brings impressive global experience in the digital and e-commerce world, as well as passion and vision for the Time Out brand. We are very pleased to have him on board to lead the Group and help us deliver the next successful chapter in the brilliant history of Time Out."

For more information, please contact:
Deepal Patadia | [email protected]

About Time Out

Time Out is the ultimate insider guide for inspiring you to keep up and join in with all that's new and best in your city. It is a global multimedia platform that spans 107 cities across 38 countries with a monthly combined audience of nearly 40 million. Our growing online presence, mobile applications, magazines, events and partnerships all inspire people to make the most of their city.

Time Out is a trusted source of inspiration across multiple verticals including Food and Drink. It provides a comprehensive curated database of the best restaurants and bars, to an audience who increasingly access Time Out's content on a location basis, in real time, from their mobile phone. 

The Group continues to rapidly expand globally. Time Out Bristol and Time Out Birmingham launched in 2015, joining the new city websites in Manchester, Edinburgh, Glasgow and Leeds. Time Out Seoul in both Korean and English language was launched in May 2015.

In 2011 Oakley Capital acquired a controlling interest in the business.

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SOURCE Time Out Group

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