FourFourTwo and fellow Haymarket consumer titles sold to Future for £14m

Five consumer media titles currently owned by Haymarket Media Group are being sold to listed publisher Future for a total of up to £14m.

The five titles are; What Hi-Fi?, tech magazine Stuff, football title FourFourTwo, Practical Caravan and Practical Motorhome. Together they generated revenues of £12m in the year to June 2017.

The transaction is expected to complete in early May following a TUPE consultation process with affected staff. The acquisition of Stuff is conditional on approval from the Competition and Markets Authority.

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."

A note from the broker Numis said: "Strategically the titles are a great fit to Future's existing portfolio that not only enhance the Group's presence in existing verticals, but also extend reach into new and relevant communities. The deal is expected to be earnings enhancing in the first full year of ownership."

Future ended last financial year with 634 staff, up from 449 the year before, thanks to other acquistions. Its existing titles are spread across tech, gaming, photography and creative, music, home interest, field sports and knowledge.

Haymarket also publishes PRWeek, Campaign, Management Today and various other professional and consumer titles.

CEO Kevin Costello said: "As our strategic focus has evolved it's become clear that they [the five properties] 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."

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