Future Network PLC
28 April 2003
28 April 2003
THE FUTURE NETWORK PLC
Acquisition of computer games magazines in France
The Future Network plc ('Future'), the international consumer magazine Group,
today announces that following regulatory approval from the competition
authorities in France, it has completed the £3.5m acquisition from Hachette
Filipacchi Presse S.A. of a subsidiary company ('HDP') which publishes four
magazines in France: Official PlayStation 2 Magazine, Joystick, Joypad and DVD
Magazine.
Commenting on the acquisition, Greg Ingham, Future's Chief Executive, said:
'We are pleased to have received regulatory approval and to have completed the
acquisition. We now look forward to publishing the titles, which we have
admired as competitors for many years. They are a very welcome addition to our
French portfolio.'
Enquiries:
The Future Network plc
Greg Ingham, Chief Executive Tel: 01225 442244
John Bowman, Finance Director
Hogarth Partnership
James Longfield/Georgina Briscoe Tel: 020 7357 9477
Notes for Editors
On 11 March 2003, The Future Network plc announced the proposed acquisition of
computer games magazines in France from Hachette Filipacchi Presse S.A. The
proposed acquisition was subject to clearance by the competition authorities in
France. HDP was previously owned by Hachette Filipacchi Presse S.A. which,
following this transaction, no longer publishes any computer games magazines.
The Future Network plc has published its Annual Report for the year ended 31
December 2002. This shows that for 2002, £29.5m of turnover was generated by
the group's subsidiaries in France and Italy. The turnover of HDP for the year
ended 31 December 2002 was £8.2m.
This information is provided by RNS
The company news service from the London Stock Exchange
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