Future PLC (LON:FUTR)

Future PLC (LON:FUTR)


Share Price
1,208.50 p
Change
-7.5 (-0.62 %)
Market Cap
£996.86 m
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Future PLC RNS Release

Acquires specialist brands from Immediate Media


RNS Number : 8262P
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 £2.0m 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.

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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