Future PLC
03 July 2007
3 July 2007
FUTURE PLC
Acquisition of www.cyclingnews.com
Future plc (LSE: FUTR), the international special-interest media group, today
announces that it has acquired Cycling News (www.cyclingnews.com) from Knapp
Communications Pty Limited for a cash consideration of A$5.25m (£2.2m) payable
upon completion, which will be financed from the Group's existing bank
facilities.
Launched in 1995, www.cyclingnews.com is the leading global website for cycling
enthusiasts providing results, commentary and other editorial content to its
web visitors. The site covers road racing, mountain bike racing, track racing,
cross racing and BMX.
In 2006 it attracted an average of 30 million page impressions each month,
representing approximately 500,000 unique visitors. The majority of its
revenues are generated from advertising on the website. For the year ended 30
June 2006 revenues were A$1.5m and EBITDA was A$0.4m.
The acquisition complements the launch this week of Future's cycling website
www.bikeradar.com which, with recent acquisition www.bikely.com, provides
integrated content from Future's successful portfolio of cycling titles and
helps cyclists to share knowledge of good cycling routes around the world.
Cycling is one of the sectors selected by Future for cross-platform development.
Future already has a successful portfolio of cycling magazines: Mountain
Biking UK, What Mountain Bike, Cycling Plus and Procycling. Last year,
enthusiasts bought 1.45 million copies of our cycling magazines. Future also
holds the licence to publish the UK's Official Tour de France Guide.
With the acquisition of www.cyclingnews.com and the launch of www.bikeradar.com,
Future is well-placed to build a market-leading position across platforms in
the cycling sector, offering high-quality content for cycling enthusiasts
around the world.
ENDS
About Future
Future plc is an international special-interest media group with offices in the
UK, US and France. Founded in 1985 with one magazine, today it creates over 180
special-interest publications, websites and events, with strong portfolios in
the technology, games, music, automotive and sports sectors. Over 130
international editions of Future's magazines are published under licence by
publishing partners in 30 other countries around the world. Future employs
around 1,450 people worldwide. The company is listed on the London Stock
Exchange (symbol FUTR).
Enquiries:
Future:
Stevie Spring, Chief Executive Tel: 020 7042 4007
John Bowman, Group Finance Director Tel: 020 7042 4031
Vicky Bacon, Head of Group Communications Tel: 020 7042 4033
Hogarth Partnership:
James Longfield / Ian Payne Tel: 020 7357 9477
This information is provided by RNS
The company news service from the London Stock Exchange
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