REG - Future PLC - Update on CMA findings on acquisition of TI Media

FutureAnnouncement

16/03/2020 07:20

RNS Number : 2354G
  
Future PLC
  
16 March 2020
  
 

 
16 March 2020
 
Future plc
 
Update on CMA findings on acquisition of TI Media
 
Future plc (LSE: FUTR; "the Group"), the global platform for specialist media, today announces an update on the acquisition of TI Media. The Group announced the proposed acquisition of TI Media on 30 October 2019, with the completion of the deal conditional upon clearance from the Competition and Markets Authority ("CMA"). 
 
The CMA investigation has found that the purchase of TI Media does not raise competition concerns, subject to the sale of three closely competing products. 
 
After completing its initial Phase 1 investigation, the CMA found that the two businesses compete closely in photography and football magazines and technology websites. The relevant titles that TI Media own in these spaces are WorldSoccer, Amateur Photographer and the technology website Trustedreviews.com. 
 
Future is in discussion with the CMA on the potential remedies to be offered to mitigate these competition issues with a view to agreeing a basis on which it can close the transaction as soon as practicable.
 
Future will provide an update on completion of the TI Media acquisition in due course. 
 
This announcement contains inside information for the purposes of Article 7 of Market Abuse Regulation No. 596/2014. The person responsible for making this announcement on behalf of Future is Timothy Maw, Company Secretary.
 
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 including advertising within newsletters. 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, Android Central, 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 75 publications and over 568 bookazines published per year, totalling global circulation of 1.5 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.
 
 
 


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