11th May 2016 07:49
LONDON (Alliance News) - Future PLC on Wednesday said it has purchased publisher and event organiser Blaze Publishing Ltd for an undisclosed sum, in a bid to diversify its revenue stream and increase its scale.
Blaze Publishing owns music events The London Drum Show and The London Bass Guitar Show, as well as music magazines Acoustic, Bass Guitar, Drummer and iDrum. Blaze Publishing also holds shooting titles, including Sporting Rifle, Clay Shooting, Airgun Shooter, Bow International, Gun Trade News and iShoot.
Future said these shooting titles represent "a new vertical" for it, and noted that it has also taken an option on the shooting, hunting and fishing event UK Game Fair, which it said will complement the growth of this vertical.
"Blaze adds another complementary vertical as well as strengthens our events capabilities," said Chief Executive Zillah Byng-Thorne
"The acquisition is part of our strategy to diversify our revenues, increase our scale and improve operational efficiency by acquiring complementary brands in our magazine division," Byng-Thorne added.
The Blaze music titles will not be new ground for Future. It already holds magazine titles and websites within the photography, film, music, and technology sectors, owning magazines such as Total Film, Digital Camera and Guitarist.
Shares in Future were untraded on Wednesday, having last traded at 8.75 pence.
By Hannah Boland; [email protected]; @Hannaheboland
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