Future announced the proposed acquisition of five specialist consumer titles from Haymarket Media Group for up to GBP £14m (US $19.8m). The five titles are, What Hi-Fi?, Stuff, FourFourTwo, Practical Caravan and Practical Motorhome.
The intended acquisition of popular brand What Hi-Fi? provides an entry into the complementary audio visual market, whilst Stuff complements Future’s existing technology brands. The acquisition of Stuff is conditional on Competition and Markets Authority approval. These brands will present Future with the opportunity to continue its strategy of organic growth in line with its content monetisation strategy.
The proposed acquisition will also give Future a position in new specialist verticals. FourFourTwo will give Future access to the football audience during World Cup year, whilst Practical Caravan and Practical Motorhome provide a strong subscriptions proposition in the outdoor leisure market.
Future predicts the acquisition will be earnings enhancing, driving growth in operating profitability and cash generation.
Zillah Byng-Thorne, CEO of Future, said: “This acquisition is a further demonstration of our strategy to develop evergreen content that connects with communities and further diversifies our revenue streams.
“These titles are well established brands with strong market positions that expand and enhance our presence in existing verticals and extend our reach into new communities.
“We have a track record in integrating and leveraging acquisitions and we are confident that this deal will be earnings enhancing and drive further growth in operating profitability and cash generation.”
Kevin Costello, CEO of Haymarket, added: “These world-class brands engage, inform and entertain millions of passionate enthusiasts. They - and their teams - have been part of the Haymarket story for many years. But as our strategic focus has evolved it’s become clear that they needed a new home where they can thrive and achieve their real potential. I’m confident Future is that home.
“Haymarket’s growth plan is increasingly focused around several clear investment themes. Firstly, building out our peerless position in consumer motoring media, to develop a strong ecommerce offer for the millions of new and used car buyers loyal to our iconic brands What Car?, Autocar and Pistonheads.
“And secondly, driving growth across our UK and international B2B portfolio - through innovative paid content, live and digital transactional models - as well as developing our client-facing content marketing agency. I’m pleased to say that we’re seeing growing momentum in all these areas.”
Haymarket and Future are members of FIPP.
More like this
Meredith Corporation announced an agreement to sell the Fortune media brand for $150m cash to Fortune Media Group Holdings, wholly owned by Chatchaval Jiaravanon. The transaction is subject to regulatory approval and is expected to close in 2018.12th Nov 2018 Deals
Meredith has completed the sale of the Time media brand to Marc and Lynne Benioff for USD $190 million. In a release dated November 1, the American media and marketing company announced the completion of the sale, which was first announced September 16, 2018.6th Nov 2018 Deals
Axel Springer and Purplebricks will set up a joint holding company, that will acquire around 22 per cent of Homeday via the purchase of existing shares and a capital increase. In addition, Axel Springer’s existing stake of four per cent will be transferred to the holding company. Axel Springer and Purplebricks will each hold a 50 per cent stake in the joint holding company.15th Oct 2018 Deals
Global media platform Teads announced an exclusive global partnership with The Economist Group to deliver both outstream video and viewable display across all its media brands.1st Oct 2018 Deals
Numbers do not lie. Physical book sales are on the up. But to suggest it’s because the world has turned its back on ereaders will be premature. It’s not quite as simple as that…13th Nov 2018 Features
Departures, a magazine published by Meredith Corporation exclusively for American Express Platinum Card Members, has revealed a new print ad that animates organic light-emitting diode (OLED) taillights on a virtual Audi A8 when the page is opened for the first time or triggered by a remote control faux key fob. The interactive in-book experience is a brand first, according to Giulio Capua, vice president and publisher of Departures.19th Nov 2018 Features
Formerly known as the Reader's Digest Association, Trusted Media Brands is a multi-platform media company based in New York, that boasts a portfolio of high profile brands. Over the years it had developed a strong and loyal audience for its print products, yet knew it needed to innovate in digital to survive and prosper.12th Nov 2018 Features
Last month, New York magazine's ecommerce site announced the November launch of a pop-up retail shop for the holiday season.13th Nov 2018 Features
With an affluent millennial population, and an existing awareness of Western brands, China represents big business for luxury publishers. Here Yvonne Wang, president of Hearst Media China, introduces us to the Country’s luxury publishing sector and looks at how Hearst is using its premium brands to attract advertisers across the region.16th Nov 2018 Features
Visit our Youtube channelFIND OUT MORE
FIPP newsletters allow you to keep up with industry trends, research, training and events across the worldFIND OUT MORE
What’s happening now, what’s coming next