Future provides update on TI Media acquisition

Future Plc this week announced an update on the acquisition of TI Media.

Future provides update on TI Media acquisition

The Group announced the proposed acquisition of TI Media on 30th October 2019, with the completion of the deal conditional upon clearance from the Competition and Markets Authority.

The CMA investigation had found that the purchase of TI Media does not raise competition concerns, subject to the sale of three closely competing products, says Future.

After completing its initial Phase 1 investigation, the CMA found that the two businesses compete closely in photography and football magazines and technology websites. The relevant titles that TI Media own in these spaces are WorldSoccer, Amateur Photographer and the technology website

Future says it is in discussion with the CMA on the potential remedies to be offered to mitigate these competition issues with a view to agreeing a basis on which it can close the transaction as soon as practicable.