Future in talks to sell three titles to meet competition ruling on £140m takeover of rival

March 27, 2020
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Future, the acquisitive Bath media group, is to offload three titles to clear a competition hurdle that was blocking its £140m takeover of Country Life and Chat publisher TI Media.

Last week the Competition and Markets Authority (CMA) ruled that it would clear the takeover on competition grounds subject to Future selling some closely-competing titles in three areas – photography, football and technology titles. 

Future has now submitted undertakings to the CMA that it plans to sell WorldSoccer, Amateur Photographer and the website Trustedreviews.com – all TI titles and said discussions were at an advanced stage with potential purchasers. 

Future publishes the football magazine Four Four Two and photography magazine Digital Camera, while its technology websites include Tech Radar and T3.

Announced last October, the deal takes Future’s magazine and website portfolio into new areas such as the wine, golf, equestrian, TV listings and gardening while strengthening its position in cycling, consumer technology and country sports. 

The takeover – Future’s largest in a string of acquisitions over recent years – also gives it a much larger female readership, with titles such as Marie Claire UK, Woman and Home, and What’s On TV among TI’s 40 brands.

World Soccer is aimed at football fans interested in the global game market while Amateur Photographer is a weekly magazine for the amateur or hobbyist photographer.

Trustedreviews.com is a UK-based web platform focused on technology and aimed at a wide audience of mainstream technology enthusiasts and buyers. Content includes reviews, buying advice and live pricing information and deals across a range of consumer and home technology products – including more general household appliances.

London-based TI’s other titles include Decanter and Wallpaper*.

At the time it announced the TI acquisition, Future said annual cost savings would come in at £15m within two years with a significant proportion to be achieved in first full financial year following completion of the acquisition.

TI Media had revenues of £201.5m and adjusted earnings of £28.7m in the year to May 31.

It is the third time in four years that Future, whose titles span hobbies, home entertainment and gadgets, has come up against the CMA.

Two years ago it decided not to buy the gadget review magazine Stuff as part of a deal to acquire specialist consumer titles from rival Haymarket following initial discussions with the CMA.

And in 2016 it was forced to offload Sci-Fi Now – a title it had acquired in its £14.2m acquisition of rival Imagine Publishing – after the CMA stepped in.

 

 

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