Completion of acquisition of four consumer titles

RNS Number : 6585M

Future PLC

01 May 2018

 

1 May 2018

Future plc

Completion of acquisition of four specialist consumer titles from Haymarket Media Group

Future plc (LSE: FUTR), the global platform for specialist media, today announces the completion of the acquisition of the specialist consumer titles of What Hi-Fi?, FourFourTwo, Practical Caravan and Practical Motorhome from Haymarket Media Group.

Following initial discussions with the CMA, it was decided not to pursue the acquisition of Stuff. The consideration has therefore been reduced to up to £13m, including the issuance of 370,708 shares which are subject to lock-up restrictions for three months from the date of issue (the "Consideration Shares").

The Company has made applications for the Consideration Shares to be admitted to the standard segment of the Official List and to the London Stock Exchange's Main Market for listed securities ("Admission"). The Company expects Admission to occur at 8am on 2 May.

The four acquired titles generated revenue of £9.6m in the last financial year to June 2017.

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.

 

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