26th Mar 2020 13:51
(Alliance News) - Publisher Future PLC confirmed on Thursday it has proposed selling three titles to push through its TI Media purchase.
Earlier Thursday, the UK Competition & Markets Authority said remedies had been offered by Future which meant the regulator now believes there are reasonable grounds to approve the acquisition.
Future announced the GBP140 million purchase of fellow magazine publisher TI Media last October.
A probe was launched in January, but last week the CMA said it would pass the acquisition if Future agreed to sell three competing titles.
On 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.
The CMA has until May 29 to make a final decision, though this could be extended to July 24.
Future shares were 7.5% higher on Thursday afternoon at 963.00 pence each.
By George Collard; [email protected]
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