Future PLC Completion of acquisition of four consumer titles (6585M)
May 01 2018 - 2:00AM
UK Regulatory
TIDMFUTR
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 GBP13m, 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 GBP9.6m 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
END
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May 01, 2018 02:00 ET (06:00 GMT)
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