Future PLC Acquires specialist brands from Immediate Media
February 13 2019 - 1:00AM
RNS Non-Regulatory
TIDMFUTR
Future PLC
13 February 2019
RNS REACH
13 February 2019
Future plc
Acquires Cycling News and Procycling Magazine from Immediate
Media
Future plc (LSE: FUTR), the global platform for specialist
media, today announces the acquisition of two specialist consumer
brands from Immediate Media Co. - CyclingNews.com and Procycling
Magazine.
CyclingNews.com is the leading cycling news website in the UK
with monthly unique audiences of 1.7m, while Procycling is the
market leading magazine within the professional cycling arena. The
two brands generated combined revenues of GBP2.0m in the last 12
months.
Acquisition highlights & rationale
-- Respected brands with strong and engaged users, which fit
with Future's specialist media strategy
-- In line with strategy to diversify revenues in specialist
media, expanding Future's presence in the sport and outdoor leisure
vertical
-- Bring organic growth opportunities by leveraging and growing
brands and content through Future's technology platform and
eCommerce model
Zillah Byng-Thorne, CEO of Future, said:
"The acquisition of these titles will expand our presence in the
sport and outdoor leisure vertical, and is a clear demonstration of
our strategy to leverage enduring content on our technology
platform to further diversify our revenue streams.
"Cycling News and Procycling are respected brands with leading
market positions that will complement our existing portfolio whilst
extending our reach into new adjacent communities."
The acquisition is expected to close on 28 February following
staff TUPE consultation.
Enquiries:
Future plc 01225 442244
Zillah Byng-Thorne, Chief Executive Officer
Penny Ladkin-Brand, Chief Financial Officer
Instinctif Partners 020 7457 2020
Kay Larsen/Chantal Woolcock/Hannah Campbell
About Future:
Future is a global platform business for specialist media with
diversified revenue streams.
The Media division is high-growth with three complementary
revenue streams: eCommerce, events and digital advertising. It
operates in a number of sectors including technology, games, music,
home interest, hobbies and B2B and its brands include TechRadar, PC
Gamer, Tom's Guide, Homebuilding & Renovating Show,
GamesRadar+, The Photography Show, Top Ten Reviews, Live Science,
Guitar World, MusicRadar, Space.com and Tom's Hardware.
The Magazine division focuses on publishing specialist content,
with over 80 publications and over 520 bookazines published per
year, totalling global circulation of 1.3 million. The Magazine
portfolio spans technology, games and entertainment, music,
creative and photography, hobbies, home interest and B2B. Its
titles include Classic Rock, Guitar Player, FourFourTwo,
Homebuilding & Renovating, Digital Camera, Guitarist, How It
Works, Total Film, What Hi-Fi? and Music Week.
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END
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February 13, 2019 02:00 ET (07:00 GMT)
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