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Future has announced the acquisition of the B2C business of Purch for US$132.5m/£100.1m. To fund the deal it is carrying out a rights issue at 303p on a basis of 3 new shares for every 4 shares held.This acquisition is a larger step up than the earlier US purchase of Newbay. Purch’s business is also more closely aligned with Future&r... ...
During the month I met with Future to catch up following the two recently completed transactions, Newbay Media in the US and four specialist titles acquired from Haymarket in the UK, which came as a single package. The price paid for each is approx £10m but they offer different opportunities.As chief executive Zillah Byng-Thorne explains,... ...
The shares went into orbit after Future reported interims to end March, which were well ahead of everyone’s expectations. Electrifying the performance was that Media has grown to be larger than the Magazine division for the first time. As it was, H1 sales were up 25% to £51.1m (7% organic), ie. some £3m ahead of forecast.... ...
A second acquisition in as many months, this time over the pond. Future has acquired Newbay, a US-based business, for an initial US$12.25m cash plus 283,692 shares, with a further US$5.60m cash to be paid next January based on performance.Newbay is a B2B provider of information and events in the audio visual and television broadcasting areas. Ne... ...
Future has acquired five specialist consumer titles from Haymarket Media for £14m in cash and shares - equivalent to 1.2x revenue. These are What Hi-Fi?, Stuff (men’s lifestyle), FourFourTwo (football), Practical Caravan and Practical Motorhome, which add a couple of new communities in sport and outdoor. The deal is expected to be ea... ...
Full year results to end September saw sales up 43% to £84.4m and pretax profit up from £2.6m to £8.3m. Adjusted eps were 21p. Magazines grew 43% to £50.3m and benefited from the added scale and operational efficiencies following the acquisitions of Imagine, Team Rock and Home Interest. Apart from its ability... ...
I have been writing SCSW for 24 years, unlike many journalists in the newspapers who have been doing what they do for 18 months. Consequently, I have seen a lot of companies go through their ups and downs over the years. When I dusted off my file on Future, I was rather surprised that the first time I met with the company was way back in 2002.At... ...
A preclose trading update from Future reported that despite a number of adverse factors the full year results to 30 September will be in line with expectations. The UK side has had a similar H1 to last year. The US,however, reverted to a loss due to continuing weaknesses in the market and also a one off factor that resulted in disruption t... ...
On Christmas Day there must have been at least eight gaming handsets at your Editor's home distributed amongst my three daughters and various nieces and nephews who were all gathered around a Nintendo Wii computer console. A day later the Daily Telegraph also ran an article confirming the Editor's suspicion that adult men were equally passionate... ...
Highbury House has agreed to an offer from Future, on the basis of 10 new Future shares for every 83.25 Highbury. Based on the price of 84p for Future, the offer values Highbury at 10p, and contains a partial cash alternative. The enterprise value of the bid is stated at £97m, as Highbury comes with net debt of £64.9m, although this... ...