In the UK – consumer media subscriptions business Dennis has been acquired by media company Future for a purchase price of approximately £300m.
• Here’s what Future bought: The Week UK / The Week US, The Week Junior UK / The Week Junior US, MoneyWeek, Kiplinger, Science & Nature, IT Pro, Computer Active, PC Pro, Minecraft World, and Coach.
• Here’s what’s being retained by vendors : Viz, Fortean Times, Cyclist and Expert Reviews.
View the Future photo library listing on PAN.
Zillah Byng-Thorne, CEO of Future, said:
“I am delighted to announce the acquisition of a high-quality portfolio of Dennis’ trusted brands that will accelerate our strategy, enhance our content capabilities and bring additional geographical and vertical revenue diversification, whilst materially increasing the proportion of recurring revenues across the Group.
“The materially earnings enhancing acquisition is highly complementary to our longstanding ‘US first’ mindset and provides an attractive opportunity to scale our recently created ‘Wealth’ vertical, whilst diversifying our presence in our ‘Knowledge’ and ‘B2B Pro Technology’ verticals.
“I look forward to welcoming our new colleagues to Future, and to continuing the successful execution of our strategy to generate long-term sustainable growth and attractive returns for our shareholders.”
• Related on PAN: Future buys Barcroft – £23.5M