IMMEDIATE MEDIA CO COMPLETES ACQUISITION OF FUTURE CYCLING AND CRAFT BRANDS
5 years ago
- £24m deal sees world-leading cycling brands including BikeRadar.com & Cyclingnews.com join Immediate
- Deal also includes No.1 craft titles Simply Knitting & Mollie Makes
- Approximately 130 staff transferring
Immediate Media Co, the special interest content and platform company, today completed the acquisition of Future’s Sport and Craft brands in a deal valued at up to £24m. The completion follows Future shareholder approval, agreed last week.
Immediate CEO Tom Bureau says:
“Today we welcome an array of world-class special interest brands into the Immediate portfolio. I’m delighted that these internationally renowned and incredibly talented teams are joining us at such an exciting time for the business. They are an ideal strategic fit as we drive our vision to develop new commercial opportunities around strong branded content, delivered across many platforms to our highly engaged affluent audiences.”
Future’s market-leading Sport titles reach over 4.7 million unique users a month, and will join Immediate’s fast-growing digital network. Focused on cycling, the Sport portfolio includes BikeRadar.com, the world’s largest cycling reviews website, alongside Cyclingnews.com, the world’s number one source for pro-cycling news and race reports. The print portfolio has a monthly circulation of more than 100,000 with market-leading Cycling Plus delivering 14 years of continuous circulation growth, alongside other leading titles Procycling and off-road market leader, Mountain Biking UK.
The Craft sector has shown impressive growth in the past few years, and Future’s portfolio of Craft brands has led through innovation and inspiration, with a track record of successful launches, including the recent Love Patchwork & Quilting. Simply Knitting is the largest audited print Craft title in the UK, while contemporary brand Mollie Makes has re-invigorated the general craft market, with the largest combined circulation, including digital editions. The brands will join Immediate’s own portfolio of titles including Cardmaking & Papercraft, Craftseller and The World of Cross Stitching.
Immediate Media Co, formed on 1st November 2011 by the merger of BBC Magazines and digital platform company Magicalia, has become established as one of the leading magazine media companies in the UK over the past two years. With a portfolio of market-leading brands, Immediate’s vision is to create a multi-platform content company in sustainable growth. Immediate’s rapidly evolving digital and transactional business is allied to the best performing print business in the industry. In the most recent Audit Bureau of Circulation (ABC) figures Immediate was the best performing of all major magazine media companies. The biggest brand in the portfolio is Radio Times which the company has driven to record levels of profitability with rapid growth in digital users and revenue. Immediate is backed by Exponent Private Equity.
Notes to editors
For more information please contact:
Chris Taylor, Director of Corporate Marketing & Communications at Immediate Media Co. on 020 7150 5652 or email firstname.lastname@example.org
List of brands moving from Future to Immediate
Cycling: Procycling, Cycling Plus, Mountain Biking UK, What Mountain Bike, Urban Cyclist, On Your Bike, BikeRadar.com, Cyclingnews.com, Onyourbike.org, Bikely.com.
Craft: Mollie Makes, The Knitter, Simply Knitting, Crochet Today!, Simply Crochet, Love Patchwork & Quilting, Cross Stitcher, Cross Stitch Collection, Papercraft Inspirations, Your Family Tree.
About Immediate Media Co:
Immediate Media Co, the specialist interest content and platform company, creates compelling content on platforms that enhances the way people engage with what they love. With an exciting mix of market-leading brands, great talent and technology expertise, Immediate, one of the biggest consumer media businesses in the UK and the third largest magazine publisher, combines its reputation for editorial quality with an integrated approach to delivering multi-platform content.
Its wholly owned brands include Radio Times, olive, Homes & Antiques and highly successfully digital brands including MadeForMums.com, loveyourhair.com and visordown.com. It publishes BBC Top Gear, BBC Good Food, and BBC EasyCook on behalf of BBC Worldwide as well as BBC History, BBC Gardeners’ World, BBC Focus and the CBeebies portfolio, under licence. It publishes Lonely Planet Traveller magazine for LPG Inc.
With over 950 staff in London and Bristol, Immediate has over one million subscribers, a brand reach of over 25 million UK consumers monthly and revenues of £150m per annum. It is owned by Exponent Private Equity.
Follow us on Twitter @Immediate_Media