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Future acquires MCV owner Newbay Media

$13.8 million deal includes US brands and B2B events

Future Publishing has acquired Newbay Media in a deal worth $13.8 million.

Newbay operates a large US business, plus UK B2B brands MCV, Music Week, TWICE and PCR.

The deal includes an initial $12.25 million in cash and $1.55 million in shares, with a further potential deferred consideration of up to $5.6 million in January 2019 (depending on performance).

Newbay generated $4.2 million in the year ending December 2017.

"Newbay is clearly aligned with Future in its mission to create content that connects, with market leading titles," said Future CEO Zillah Byng-Thorne.

"This acquisition strengthens our presence in the US, and together with our recent UK acquisition expands our market leadership in music and consumer electronics.

Newbay's B2B titles, including those in audio visual and television broadcasting, will further diversify our revenue streams whilst bringing additional valuable B2B experience to complement Future's B2C businesses.

"We have a proven track record of acquisition and successful integration. This deal will be earnings enhancing and drive further organic growth in revenue and profitability in the first full year."

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Latest comments (1)

Unexpected......I hope Future does not ruin the current strategy and experiences of the company and it brands.
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