Future has announced the acquisition of two specialist consumer brands from Immediate Media, Cycling News and Procycling Magazine.
Cycling News has monthly unique audiences of 1.7 million, and the two brands have generated combined revenues of £2 million in the last 12 months.
Zillah Byng-Thorne, CEO of Future, said: “The acquisition of these titles 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.
“Cycling News and Procycling are respected brands with leading market positions that will complement our existing portfolio whilst extending our reach into new adjacent communities.”
The acquisition is expected to close on 28th February following staff TUPE consultation.
Future completed the sale of BikeBiz last month, and this acquisition strengthens its position in the consumer market following the purchases of FourFourTwo, What Hi-Fi?, Stuff, Practical Caravan and Practical Motorhome in 2018.