1st Apr 2020 10:37
(Alliance News) - The UK competition watchdog said Wednesday it has opened a public consultation on the tie-up of publisher Future PLC and TI Media before making its final decision.
Future announced the GBP140 million purchase of fellow magazine publisher TI Media last October.
The UK Competition & Markets Authority, however, raised concerns in January but last week the regulator said it would pass the acquisition if Future agreed to sell three competing titles.
Last Thursday, Future confirmed it has agreed to sell WorldSoccer, Amateur Photographer, and Trustedreviews.com. All are in an advanced stage of talks with potential buyers.
Then later the same day, the CMA said those remedies meant the regulator now believes there are reasonable grounds to approve the acquisition.
The CMA has until May 29 to make a final decision, though this could be extended to July 24.
Shares in Future were down 5.3% in London on Wednesday at 947.00 pence each.
By Paul McGowan; [email protected]
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