The sale of four of the titles, What Hi-Fi?, FourFourTwo, Practical Caravan and Practical Motorhome was confirmed this morning (21 March), while the sale of gadget and technology magazine Stuff is conditional on approval from the Competition and Markets Authority.
Stuff would slot into Future’s existing technology brand portfolio alongside T3 and Techradar, while football magazine FourFourTwo grants the Bath-based company entry into the football market ahead of the World Cup in Russia this summer.
“This acquisition is a further demonstration of our strategy to develop evergreen content that connects with communities and further diversifies our revenue streams,” said chief executive Zillah Byng-Thorne.
“These titles are well established brands with strong market positions that expand and enhance our presence in existing verticals and extend our reach into new communities.
"We have a track record in integrating and leveraging acquisitions and we are confident that this deal will be earnings enhancing and drive further growth in operating profitability and cash generation.”
London-based Haymarket, which publishes titles including What Car?, PRWeek and Autocar, now plans to focus on “several clear investment themes” such as building on its position in the consumer motoring media market and developing its international B2B portfolio and client-facing content marketing agency.
A report in the publisher’s own Campaign title indicated that the sale means that Haymarket will close its consumer media division to focus on its automotive brands.
Haymarket chief executive Kevin Costello said: “These world-class brands engage, inform and entertain millions of passionate enthusiasts. They – and their teams – have been part of the Haymarket story for many years.
“But as our strategic focus has evolved it’s become clear that they needed a new home where they can thrive and achieve their real potential. I’m confident Future is that home.”
FourFourTwo has an ABC total of 48,620 from January-December 2017. A spin-off title catered to a younger audience, Goal!, was announced by Haymarket in December last year, though its status in the deal is unclear. Stuff has a January-December 2017 ABC of 54,492.
Haymarket's consumer division titles are printed by Wolverhampton-based William Gibbons, and Future expects to continue this arrangement as many of its own titles are handled by the printer.
It is also understood by PrintWeek that editorial staff for the five titles will be relocated to a new office in London, rather than moving to Bath. Future said concrete decisions around the transition have yet to be made.
PrintWeek has approached Haymarket for further comment.
