BikeBiz Bicycle and cycling retail news
Kelsey Media, owner of Running Fitness as well as heavy hitting mags like Good Homes and Psychologies, has bought Triathlon Plus from Future.
The move sees Future lose the last of its cycle-related titles, following the sale of BikeRadar, Cycling Plus, What Mountain Bike, Cyclingnews.com, Cycling Plus, et al, to Immediate Media. Immediate already owned 220 Triathlon.
Kelsey also took on Future’s auto titles and paid £2.1m in total; comprising £1.8m in cash and £0.3m of subscriptions deferred revenue to be retained by Future. In addition, deferred consideration of up to £0.8m is payable by 30 September 2015 based on revenue performance. Completion is scheduled to occur by end of August 2014.
The auto title line-up includes Fast Car, Fast Ford, Classic Ford, Classics Monthly, Total Vauxhall, Mini Magazine, Classic Ford Show, Japfest, Japfest 2: The Evolution, among others.
Zillah Byng-Maddick, Future’s Chief Executive, commented: "The sale of this portfolio to Kelsey Publishing is another step in our strategy to focus the business on our core vertical markets."
