Magazine-media. The UK-based Future acquires specialist consumer titles What Hi-Fi?, FourFourTwo, Practical Caravan and Practical Motorhome from the UK privately-owned Haymarket Media Group which has been streamlining its portfolio following the company’s financial rehabilitation (substantial borrowings being all but paid-off through property divestments). Following initial discussions with the UK competition regulator, Future decided not to pursue the acquisition of Stuff magazine (which competes directly with Future’s T3). The consideration was consequently reduced to <£13m. The four magazine-digital brands generated revenue of £9.6m in the year to June 2017. The deal is the latest of a series of recent transactions by Future across the range of magazines, digital services, events and e-commerce in Australia, the UK and US.
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Future plc completes £13m acquisition of Haymarket magazines
