NEW YORK, Aug. 16, 2021 (GLOBE NEWSWIRE) — Future plc, the global platform for specialist media, announced today the acquisition of a portfolio of leading Wealth, Knowledge and B2B Pro Technology specialist brands from Dennis Publishing. The approximately £300m deal includes respected print and online publications Kiplinger, MoneyWeek, The Week & IT Pro, which join other recent acquisitions by Future that include GoCo Group and MarieClaire.com.
The move accelerates the realization of Future’s growth strategy in the Wealth and Knowledge verticals, extends its reach in the US and adds a significant subscription conversion engine to Future’s core offerings.
“I am delighted to announce the acquisition of a high-quality portfolio of trusted brands from Dennis Publishing 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,” said Zillah Byng-Thorne, CEO of Future. “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.”
Future recently released a trading update indicating that its year-end performance was expected to be materially ahead of expectations. Over the last five years, it has acquired assets worth £1.1bn and increased its underlying business by more than £2bn.
Future will optimize performance of the newly acquired verticals using proprietary ad tech and ecommerce technology to deliver significant increases in online audiences, boosting revenue opportunities for advertisers and brands. The brands included in the acquisition are:
- The Week / The Week US
- The Week Junior / TWJ US
- Science & Nature
- IT Pro
- Computer Active
- PC Pro
- Minecraft World
“These properties strengthen our North American presence at a time when Future is expanding aggressively, especially in the Consumer Wealth, Knowledge and Technology spaces,” Byng-Thorne said. “I look forward to welcoming our new colleagues and continuing the successful execution of our strategy to generate long-term sustainable growth and attractive returns for our shareholders.”
Connectors. Creators. Experience Makers.
Future is a global multi-platform media company and leading digital publisher, with scalable brands and diversified revenue streams. Every month, it connects over 400 million people worldwide with their passions, through expert content, world-class events and cutting-edge proprietary technology. Every year Future attracts millions of consumers to its brands’ websites, magazines, events and social spaces. Its factual production company Barcroft Studios specialises in producing amazing content, enjoyed and shared by millions of people worldwide.
Its market-leading portfolio of over 240 brands spans technology, games, TV and entertainment, women’s lifestyle, real life, music, creative and photography, sports, home interest and B2B sectors. Brands include Techradar, Gamesradar+, Country Life, woman&home, Marie Claire UK, Classic Rock, Guitar Player, FourFourTwo, TV Times, Homebuilding & Renovating, Decanter, Digital Camera, Guitarist, How It Works, Total Film, What Hi-Fi? and Music Week.
About Dennis Publishing
Dennis Publishing is a leading consumer media subscriptions business based in London, New York and Washington DC. Operating across the Current Affairs and Personal Finance verticals in the UK and US, the portfolio is centred on The Week, The Week Junior, MoneyWeek and Kiplinger brands.
Exponent recently separated Autovia, a market leading automotive content and eCommerce platform, from Dennis Publishing. Following the sale of Dennis Publishing to Future, Autovia will remain an Exponent portfolio investment.
Dennis Publishing is led by its CEO, James Tye, who will remain with the Dennis Publishing Brands following completion and as part of the Future Group.
Ginger May (UK)
(0)203 642 1124