17th Apr 2020 09:56
(Alliance News) - The UK Competition & Markets Authority on Friday said it has approved the acquisition of TI Media by fellow publisher Future PLC.
The regulatory authority said it accepted remedies offered by Future and will therefore not refer the acquisition for an in-depth phase 2 investigation.
In October, FTSE 250-listed Future announced the GBP140 million purchase of TI Media. A probe was launched by the UK CMA in January and in March, the regulator said it would pass the acquisition if Future agreed to sell three competing titles.
In response, Future agreed to sell WorldSoccer, Amateur Photographer, and Trustedreviews.com. All are in an advanced stage of talks with potential buyers.
On Friday, Future noted the CMA's announcement and said it expects the acquisition of TI Media to be completed soon.
The stock was trading 8.7% higher at 1,042.00 pence each on Friday morning in London.
By Ife Taiwo; [email protected]
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