REG - Future PLC - Completion of acquisition of four consumer titles

FutureAnnouncement

01/05/2018 07:06

2018-05-01T06:00:30.022Zreuters.comtag:reuters.com,2018-05-01:newsml_RSA6585Ma:13TXT
This file is provided for EAP sample purposes only; it's structure and detail are subject to change, and should not be used as a definitive reference for actual development and processing.2018-05-01T06:00:30.022Z2018-05-01T06:00:30.022Z_UCDP:parsn_lse_10.54.132.131_1.2.37102:2019-06-01T06:00:30.022Z3RSA6585MaREG - Future PLC  - Completion of acquisition of four consumer titles Magazine Publishing (TRBC level 5)Consumer Cyclicals (TRBC level 1)Media & Publishing (TRBC level 3)Consumer Publishing (TRBC level 4)LEGACY: Cyclical Consumer Goods & Services (TRBC)Cyclical Consumer Services (TRBC level 2)LEGACY: Media & Publishing (TRBC)LEGACY: Publishing (TRBC)Western EuropeUnited KingdomEuropeTechnology / Media / TelecomsSuggested SourcesConsumer Products and ServicesConsumer ServicesServicesNews AnnouncementsRegulatory Corporate News AnnouncementsCompany NewsEurope daily earnings hits & missesFuture PLC








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.
 
 



This information is provided by RNS
The company news service from the London Stock Exchange
 
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