Future plc, the global platform for specialist media, and publisher of Gun Trade News, Sporting Rifle, Clay Shooting, Airgun Shooter, Airgun World and Bow International announced on 21 April completion of the acquisition of TI Media.
TI Media is a UK-based, print-led consumer magazine and digital publisher with deep industry heritage and a portfolio that incorporates 38 brands including: Country Life; The Field; Shooting Times; Shooting Gazette, Shooting UK, Sporting Gun and Angler’s Mail.
TI Media brings to Future a presence in the Wine, Golf, Equestrian, Country Living, TV Listings, Women’s Lifestyle and Gardening verticals, and deepens and extends Future’s strength and position in Home, Cycling and Country Sports.
On 16 March 2020, it was announced that the Competition and Markets Authority had found that the purchase of TI Media did not raise competition concerns, subject to the sale of three closely competing products: World Soccer; Amateur Photographer; and the technology website Trustedreviews.com, as well as an agency arm of TI media, all of which have now been completed.
In the year to December 2019, the combined revenue and EBITDA contribution in relation to these four assets was £12m and £0.3m respectively. The aggregate purchase price received for all four assets was £1.4m.
The TI Media acquisition continues to offer a compelling strategic and financial rationale, with entry into new market verticals through its leading brands, and expansion within existing markets.
Leveraging Future’s proprietary technology platform and global operating model, we remain excited about the long term opportunity.