Future PLC Acquires five specialist titles from Haymarket (3570I)
21 March 2018 - 6:00PM
UK Regulatory
TIDMFUTR
RNS Number : 3570I
Future PLC
21 March 2018
21 March 2018
Future plc
Acquires five specialist consumer titles from Haymarket Media
Group
Future plc (LSE: FUTR), the global platform for specialist
media, today announces the proposed acquisition of five specialist
consumer titles from Haymarket Media Group - What Hi-Fi?, Stuff,
FourFourTwo, Practical Caravan and Practical Motorhome - for a
consideration of up to GBP14m, the majority of which is in the form
of cash, with the balance in shares. The titles generated revenue
of GBP12m in the last financial year to June 2017.
The consideration shares are subject to lock-up restrictions for
three months from the date of issue.
Acquisition highlights & rationale
-- Respected titles, diversify revenues, strengthening position
in audio visual and expanding Future into new verticals: sport and
outdoor leisure
-- Titles present organic growth opportunities by leveraging and
expanding brands and content through Future's platform
o What Hi-Fi? extends existing brand leadership in consumer technology to lead in audio visual
o FourFourTwo enters Future into the sport vertical during a World Cup year
o Practical Caravan and Practical Motorhome build a strong
position in specialist subscription magazines for outdoor
leisure
o Stuff extends commitment to the men's lifestyle market
-- The acquisition is expected to be earnings enhancing in the
first full year of ownership, driving growth in operating
profitability and cash generation
The transaction is expected to complete in early May following
the TUPE consultation process with the relevant staff. The
acquisition of Stuff is conditional on CMA approval.
Zillah Byng-Thorne, CEO of Future, said:
"This acquisition is a further demonstration of our strategy to
develop evergreen content that connects with communities and
further diversifies our revenue streams.
"These titles are well established brands with strong market
positions that expand and enhance our presence in existing
verticals and extend our reach into new communities.
"We have a strong track record of integrating and leveraging
acquisitions and we are confident that this deal will be earnings
enhancing and drive further growth in operating profitability and
cash generation."
Enquiries:
Future plc 01225 442244
Zillah Byng-Thorne, Chief Executive Officer
Penny Ladkin-Brand, Chief Financial Officer
Instinctif Partners 020 7457 2020
Kay Larsen/Chris Birt
Certain information contained in this announcement would have
constituted inside information (as defined by Article 7 of
Regulation (EU) No 596/2014) prior to its release as part of this
announcement.
About Future:
Future plc is an international media group and leading digital
publisher, listed on the London Stock Exchange (symbol: FUTR). The
Group operates two separately managed brand-led divisions: Media
and Magazine. The Group has a reach of 100m+ globally, including
62m online users and 63m social media reach.
The Magazine division is brand-led. It has over 100
market-leading publications, with 10 key titles.
The Media division focuses on being at the forefront of digital
innovation, in particular, the high growth technology and games
markets, with three complementary revenue streams: eCommerce,
events and digital advertising. It has a number of leading brands
including TechRadar, PC Gamer, GamesRadar+, The Photography Show,
Generate, The Homebuilding and Renovating Show and Golden Joysticks
Awards.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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