Kelsey Media acquires Future’s auto portfolio and Triathlon Plus
The deal is worth £2.1m (£1.8m cash and £0.3m of magazine subscriptions deferred revenue to be retained by Future). In addition, deferred consideration of up to £0.8m is payable by 30 September 2015 based on revenue performance.
Future says the deal will be complete by the end of August 2014, and comprises the following titles: Fast Car, Fast Ford, Classic Ford, Classics Monthly, Total Vauxhall, Mini Magazine, Triathlon Plus, Classic Ford Show, Ford Fair, Japfest, Japfest 2: The Evolution, Performance Vauxhall Show, TRAX: The Ultimate Performance Car Event and associated websites.
Future chief executive, Zillah Byng-Maddick, said: “The sale of this portfolio to Kelsey Publishing is another step in our strategy to focus the business on our core vertical markets.”
