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.
