Future plc, global platform for specialist media, today announces the proposed acquisition of five specialist consumer titles from Haymarket Media Group for up to £14m. 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, said:
“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.”
Kay Larsen/ Chris Birt
020 7457 2020
Notes to editors
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.
About Haymarket Media Group:
Haymarket Media Group creates award-winning specialist content and services for international audiences. The company has more than 70 market-leading brands created by world-class experts in locations in the UK, the US, Hong Kong, Singapore, India and Germany. Our consumer and professional brands connect people and communities across digital, mobile, print and live media platforms. Although Haymarket's portfolio is diverse, its mission is the same across borders and markets: to deliver brand experiences which truly meet the needs of its audiences and clients. Haymarket's brands include What Car?, Pistonheads, Campaign, PRWeek, MyCME and Finance Asia.