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Future PLC - Update on CMA Findings on Acquisition of TI Media

RNS Number : 7468H
Future PLC
26 March 2020
 

26 March 2020

 

Future plc

 

Update on CMA findings on acquisition of TI Media

 

Future plc (LSE: FUTR; "the Group"), the global platform for specialist media, today announces an update on the acquisition of TI Media. The Group announced the proposed acquisition of TI Media on 30 October 2019, with the completion of the deal conditional upon clearance from the Competition and Markets Authority ("CMA"). 

 

The CMA investigation found that the purchase of TI Media does not raise competition concerns, subject to the sale of three closely competing products. 

 

Future has submitted undertakings to the CMA regarding the sale of WorldSoccer, Amateur Photographer and the website Trustedreviews.com, which are at an advanced stage of discussion with potential purchasers. 

 

Today the CMA has announced that it considers that there are reasonable grounds for believing that the undertakings offered, or a modified version thereof, might be accepted by the CMA to remedy the issues identified.

 

Future will continue to provide updates on the TI Media acquisition in due course.

 

 

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 including advertising within newsletters. 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, Android Central, 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 75 publications and over 568 bookazines published per year, totalling global circulation of 1.5 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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Quick facts: Future PLC

Price: 1216

Market: LSE
Market Cap: £1.19 billion
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