We are thrilled to announce that Future is adding two cycling brands to its portfolio: Cyclingnews and the magazine Procycling, which we have acquired from Immediate Media. These brands are leading worldwide voices on professional cycling, offering analysis, insight, gorgeous photography and exclusive interviews with industry greats.
The proposed transaction will enable Future to publish the leading global media brands in pro-cycling. These titles will grant us: market leading positions in the pro-cycling sector; long-established and profitable brands with attractive development; and robust business models with strong digital subscriptions, export and licensing revenues.
Future’s CEO, Zillah Byng-Thorne, says:
“The acquisition of these brands 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.
“We have a proven methodology and track record of integration and we are confident that this deal will drive further growth in operating profitability and cash generation.
“You may remember that these brands were originally published by Future before we sold them to Immediate Media in 2014. Buying them back is a special moment for us to honour a piece of our heritage and a fantastic opportunity to expand our portfolio.”
You can read the full RNS here.