Future Publishing has announced the sale of Trucking and Truckstop News to Kelsey Publishing Limited.
Posted on: 23 May 2012 07:28
Trucking is Britain’s leading road-transport magazine, says Future. Appealing to all levels of the industry it offers a unique mix of news, features, commentary and truck road tests. Many of Trucking’s writers and photographers are professional truck drivers. Truckstop News is the free monthly national newspaper for truckers.
The deal sees Kelsey Publishing acquire the brands and their associated assets for a consideration of up to £1.1m - £1m of the gross consideration in cash at completion, with a further £0.1m deferred subject to the financial performance of the assets over the next 12 months.
Kelsey Publishing is one of the UK's foremost publishers of specialist magazines and books - produced for enthusiasts by enthusiasts. Kelsey brands include Classic Car Buyer, 4x4, Jaguar World Monthly and Total BMW.
Future Publishing CEO Mark Wood says: “Trucking and Truckstop News are successful and popular titles, but as we focus increasingly on our digital and global growth strategies they are no longer core to Future’s operations. Kelsey is an ideal new home for these specialist magazines and they will flourish there. I would like to thank the Trucking team for all their hard work and superb commitment, and wish them all the best in the future.”
Steve Wright, Managing Director of Kelsey Publishing, says: “We are delighted to announce that Kelsey has acquired Trucking and Truckstop News. We recognise the strength and potential for these brands within our business. Both titles fit naturally within our portfolio of transport magazines.”