Magazine powerhouse Future has bid £140m to acquire rival Ti Media as it has the tech and expertise to scale and digitally monetise its brands.
The stable, which includes around 132 titles including PC Gamer, Total Film, Kotaku UK, Total Guitar, FourFourTwo, is keen to sweep up Ti Media’s 41 UK brands, and 220 globally.
A press release issued late 30 October branded it “one of the most important moments in Future’s history.”
Chiefly, it said that the move will add three new verticals, lifestyle, women’s interest and sport with the addition of titles such as Decanter, Wallpaper, Country Life and Marie Claire UK.
Future said its SEO and tech expertise can help scale Ti Media’s brands digitally and internationally.
Chief executive of Future, Zillah Byng-Thorne, said: “This acquisition provides an outstanding opportunity to accelerate Future’s strategy and to bolster its growth levers.
“TI Media’s long-established market-leading brands, industry events and quality content are an exceptional fit with our business and our strategy. TI Media will substantially expand our presence in existing verticals and bring a number of new content verticals that will significantly enhance the Future portfolio.
“In addition, the largely UK-focussed, print-led nature of the TI Media portfolio offers a multiplicity of opportunities to leverage our proprietary technology stack and operating model to develop new digital monetisation models and geographic expansion. “This deal marks the latest move in our strategy to deliver growth both organically and through acquisition. We are confident that the acquisition will be materially earnings enhancing in the first year, driving further growth in profitability and cash generation whilst significantly enhancing our scale and reach.”
Current TI Media chief finance officer, Rachel Addison will reportedly join Future as in the same role upon completion of the deal.
Future plc is a British media company founded in 1985.