20th Sep 2005 07:02
Future PLC20 September 2005 20 September 2005 Future plc Acquisition of games magazines in Italy and France Future plc ('Future'), the international special-interest consumer magazinegroup, today announces that it has made two acquisitions, in Italy and France,for a total cash consideration of €3.7m (£2.5m). In Italy, Future has acquired Italy's longest-running computer games title TheGames Machine from Milan-based Xenia Edizioni Srl for €3.5m (£2.4m). The dealalso includes smaller titles PC Action, PC Action Games, the recently launchedVideogames and the website www.tgmonline.it. For the year to December 2004, turnover for the established titles and websitewas €4.5m and the estimated profit before tax attributable to these titles was€0.6m. The acquisition involves ten Milan-based employees who are all movingacross to Future's office, also in Milan. In France, Future has acquired Consoles Plus magazine from Emap France for €0.2mincluding integration costs. Founded in 1991, Consoles Plus is one of theleading multi-platform games magazines in France. The magazine fits well withFuture France's games magazine portfolio. This includes the titles acquired fromHachette in 2003, which have exceeded expectations. In the year to March 2005,Consoles Plus recorded sales of €1.8m and a small loss before tax. Commenting on these acquisitions, Greg Ingham, Chief Executive of Future said: "These are good bolt-on acquisitions that build on our existing position in thegames sector in Italy and France. We look forward to publishing these titles,which we have admired as competitors for many years. They are a very welcomeaddition to our portfolio." Enquiries: Future plc Greg Ingham, Chief Executive Tel: +44 1225 822521John Bowman, Finance Director Tel: +44 1225 732281 Hogarth PartnershipJames Longfield/Georgina Briscoe Tel: +44 20 7357 9477 About FutureFuture plc was founded in the UK in 1985. Today, it publishes over 150special-interest consumer magazines worldwide with strong portfolios in thecomputing, games, music, automotive, sports, crafts and leisure sectors. It isthe fifth largest magazine publisher in the UK. Future employs 1,450 people inoffices in the UK, US, France and Italy. Over 100 international editions ofFuture's magazines are also published under licence in 30 other countries acrossthe world. The company is listed on the London Stock Exchange (symbol FUTR). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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