29 April 2005 By MCV Staff
After its dreams of a full Highbury takeover were recently shattered by the OFT, Future has returned with a £30.5m deal to snap up 38 titles from its beleaguered rival – significantly not including the offending games titles.
The OFT referred Future’s planned total acquisition of Highbury House Communications to the Competition Commission, on the grounds that completion of the deal would give Future a 95 per cent share in the games sector. Future promptly withdrew its bid.
The reworked deal includes the likes of Fast Car, Fast Bikes, DJ, DVD Review and the What Video group of magazines, plus Highbury’s five US titles.
"These are classic special-interest magazines which will be great additions to the Future portfolio,” commented Future CEO Greg Ingham.
“This deal has several of the attractions of the larger one with Highbury from which we withdrew earlier this month. We have built up considerable knowledge of Highbury’s portfolio over the past few months and thus have been able to move swiftly."