Future plc (LSE: FUTR), the global platform for specialist media, today announces the acquisition of two specialist consumer brands from Immediate Media Co. – CyclingNews.com and Procycling Magazine.
CyclingNews.com is the leading cycling news website in the UK with monthly unique audiences of 1.7m, while Procycling is the market leading magazine within the professional cycling arena. The two brands generated combined revenues of £2.0m in the last 12 months.
Acquisition highlights & rationale
● Respected brands with strong and engaged users, which fit with Future’s specialist media strategy
● In line with strategy to diversify revenues in specialist media,expanding Future’s presence in the sport and outdoor leisure vertical
● Bring organic growth opportunities by leveraging and growing brands and content through Future’s technology platform and eCommerce model
Zillah Byng-Thorne, CEO of Future, said:
“The acquisition of these titles will expand our presence in the sport and outdoor leisure vertical, and is a clear demonstration of our strategy to leverage enduring content on our technology platform to further diversify our revenue streams.
“Cycling News and Procycling are respected brands with leading market positions that will complement our existing portfolio whilst extending our reach into new adjacent communities.”
The acquisition is expected to close on 28 February following staff TUPE consultation.