Immediate Media in £24m Future titles swoop
Monday, July 28, 2014
Immediate Media has acquired Future's Sports and Craft titles, which have an audited print circulation of more than 250,000 a month, in a deal valued at up to £24m.
Audited circulation figures are only available for nine of the 16 printed titles included in the two magazine stables, meaning the combined print run will be significantly higher.
Of the magazines that have been ABC audited, Cycling Plus has the highest average monthly circulation at 45,640, followed by Simply Knitting (38,150) and Mollie Makes (36,962).
The Sports stable includes printed titles ProCycling, Cycling Plus, Mountain Bike UK, What Mountain Bike, Urban Cyclist and On Your Bike, as well as digital properties BikeRadar.com, Cyclingnews.com, Onyourbike.org and Bikely.com.
The Craft titles include Mollie Makes, The Knitter, Simply Knitting, Crochet Today!, Simply Crochet, Love Patchwork & Quilting, Cross Stitcher, Cross Stitch Collection, Papercraft Inspirations and Your Family Tree.
Approximately 130 staff have transfered from Future to Immediate Media after shareholders approved the deal last week.
Immediate chief executive Tom Bureau said: "Today we welcome an array of world-class special interest brands into the Immediate portfolio. I'm delighted that these internationally renowned and incredibly talented teams are joining us at such an exciting time for the business.
"They are an ideal strategic fit as we drive our vision to develop new commercial opportunities around strong branded content, delivered across many platforms to our highly engaged affluent audiences."
Immediate was not available for comment on where the Sports and Craft titles are currently printed or whether it plans to put the work out to tender following the acquisition.
Immediate's primary print supplier is Polestar although William Gibbons & Sons is understood to produce a significant number of the specialist titles managed by Immediate's Bristol office and was also a significant print supplier to Future.