Future plc is a British media company founded in 1985. It publishes more than 50 magazines in fields such as video games, technology, films, music, photography, home and knowledge. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
|Traded as||LSE: FUTR|
|Industry||Magazine and internet publishing|
|Headquarters||Bath, Somerset, England|
(Chief Executive Officer)
|Revenue||£124.6 million (2018)|
|£18.5 million (2018)|
|£2.9 million (2018)|
The company was founded as Future Publishing in Somerton, Somerset in 1985 by Chris Anderson with the sole magazine Amstrad Action. An early innovation was the inclusion of free software on magazine covers, the first company to do so. It acquired GP Publications so establishing Future US in 1994.
Anderson sold Future to Pearson PLC for £52.7m in 1994, but bought it back in 1998, with Future chief executive Greg Ingham and Apax Venture Partners, for £142m. The company was the subject of an initial public offering in 1999. Anderson left Future in 2001.
In 2007, the State of Texas filed a lawsuit against Future plc for violating the Children's Online Privacy Protection Act. The lawsuit alleges that the Future plc owned website GamesRadar "failed to include necessary disclosures and obtain parental consent before collecting personal information from children." The owner of the other websites settled in March 2008, though the final disposition against Future plc is not public record.
In March 2010, Future announced that it was exploring the possibility of reviving its GamesMaster brand on television. The video games show had run from 1992 until 1998 but while the spin-off magazine continued to be published for a further 20 years, its last issue hit the newsstands on 1 November 2018.
Future published the official magazines for the consoles of all three major games console manufacturers (Microsoft, Nintendo, and Sony); however PlayStation: The Official Magazine ceased publishing in November 2012, and Official Nintendo Magazine ceased publishing in October 2014.
The company had a period of shuttering print media properties in favour of digital media, closing many titles and selling off others. In January 2012, Future sold its U.S. consumer music magazines, including Guitar World and Revolver, to NewBay Media for $3 million. In April 2013, it completed the sale of major components of its UK media-music brands for £10.2 million to Team Rock Ltd. In September 2013 – but bought these back for £800,000 in 2017 after Team Rock went into administration.
Future announced it would cut 55 jobs from its UK operation as part of a restructuring to adapt "more effectively to the company's rapid transition to a primarily digital business model." The company announced in March 2014 that it would close all of its U.S.-based print publications and shift U.S. print support functions such as consumer marketing, production and editorial leadership for Future's international print brands to the UK. Later in 2014, Future sold its sport and craft titles to Immediate Media, and its auto titles to Kelsey Media.
In 2016, Future started to expand its print and web portfolio through a series of acquisitions. It bought Blaze Publishing to diversify into the shooting market and acquired Noble House Media to increase its interest in telecoms media. Future then completed the purchase of rival specialist magazine publisher Imagine on 21 October 2016 after receiving approval from the Competition and Markets Authority. In 2018, Future made further major acquisitions. It bought the What Hi-Fi?, FourFourTwo, Practical Caravan and Practical Motorhome brands from Haymarket. Future acquired NewBay Media, publisher of numerous broadcast, professional video, and systems integration trade titles, as well as several consumer music magazines. (This acquisition returned most of the U.S. consumer music magazines to Future with the exception of Revolver which already sold to Project Group M LLC in 2017).
It completed the acquisition of U.S. B2C publisher Purch for $132m by September 2018. Future also purchased nextmedia computing and tech assets (including Atomic, Hyper, PC PowerPlay, and PC Tech & Authority) in the same month and incorporating PC PowerPlay articles into the online versions of PC Gamer.
In February 2019, Future acquired Mobile Nations including Android Central, iMore, Windows Central and Thrifter for $115 million. Future also acquired ProCycling and CyclingNews.com from Immediate Media.
In October 2019, Future announced the intent to acquire TI Media (41 brands including Decanter, Country Life, Wallpaper* and Woman & Home) for £140 million. The acquisition is anticipated to complete in the spring of 2020, following shareholder and CMA approval.
The company also owns the US company Future US.
- "Annual Report 2018" (PDF). Future plc. Retrieved 16 June 2019.
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- "Can new Future CEO end 15 years of boom & bust?". Flashes and Flames. 6 April 2014. Retrieved 17 June 2019.
- Walters, Helen (18 February 2010). "TED's Not Dead, But It Is Aging: The annual conference tries to reach out to a new generation, awkwardly". Business Week. Archived from the original on 2010-02-21. Retrieved 16 March 2010.
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- Rose Proskauer (28 May 2008). "Texas Attorney General Settles One of First State COPPA Enforcement Actions". Proskauer. Archived from the original on 2008-06-05. Retrieved 30 July 2014.
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- "Archived copy". Archived from the original on 2013-11-11. Retrieved 2013-06-30.CS1 maint: archived copy as title (link)
- "Archived copy". Archived from the original on 2013-07-22. Retrieved 2013-06-30.CS1 maint: archived copy as title (link)
- Sweney, Mark (2017-01-08). "No need to fret: Metal Hammer magazine saved from closure". The Guardian. ISSN 0261-3077. Archived from the original on 2018-12-09. Retrieved 2017-01-19.
- Christensen, Nic (2013-08-16). "Bauer culls 10 per cent of ad team and sells two titles". Mumbrella. Retrieved 2018-12-20.
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- Future US streamlined to focus on digital, RNS Number : 3903D, Future PLC, 28 March 2014
- Sweney, Mark (2014-11-21). "Future Publishing cuts more than 400 jobs as part of restructure". The Guardian. Archived from the original on 2018-12-09. Retrieved 2014-12-21.
- InPublishing. "Future acquires Blaze Publishing's business". Archived from the original on 2016-08-01. Retrieved 2016-10-09.
- "Future confirms acquisition of Noble House Media | Media Mergers". www.mediamergers.co.uk. Archived from the original on 2018-12-09. Retrieved 2016-10-09.
- Andrew Parsonage. "Future plc acquire Imagine Publishing for £14.2 million". Future PLC. Archived from the original on 2016-08-02. Retrieved 2016-10-09.
- "Future completes Imagine Publishing acquisition". Interactive Investor. Archived from the original on 2016-10-23. Retrieved 2016-10-23.
- "Specialist magazines merger could face in-depth investigation - Press releases - GOV.UK". www.gov.uk. Archived from the original on 2018-12-09. Retrieved 2016-10-09.
- Tom Butts (4 April 2018). "Future Publishing Acquires US Content Business NewBay Media". TV Technology. Archived from the original on 2018-12-09. Retrieved 4 April 2018.
- Blabbermouth (2017-05-01). "REVOLVER Magazine Sold To Digital Media Company PROJECT M GROUP; Brand Relaunch Planned For This Fall". BLABBERMOUTH.NET. Retrieved 2018-12-23.
- "Purch sells B2C imprints to global specialist media publisher Future in $132m deal". The Drum. Archived from the original on 2018-12-09. Retrieved 2018-07-29.
- "Future buys Purch to boost US revenue". Digiday. 2018-07-18. Archived from the original on 2018-12-09. Retrieved 2018-07-29.
- "Future acquires nextmedia brands including PC PowerPlay | Media Mergers". Retrieved 2018-12-21.
- "Australia, PC PowerPlay is now part of the PC Gamer family". pcgamer. Retrieved 2018-11-26.
- "Did something just happen?". Atomic πi. Retrieved 2018-12-21.
- Barton, Seth (2019-01-11). "Six of the UK's top B2B brands are now under new ownership". MCV. ISSN 1469-4832. Retrieved 2019-01-21.
- "Future : Acquisition of Mobile Nations".
- "Accelerates Mobile Nations earnout payment". otp.investis.com. Retrieved 2019-10-20.
- "Back to Future: Immediate sells CyclingNews and Procycling to Future plc, their previous owner". Bicycle Retailer and Industry News. Retrieved 2019-11-16.
- "Acquisition of SmartBrief". otp.investis.com. Retrieved 2019-10-20.
- "Proposed Acquisition of TI Media for £140 million". otp.investis.com. 30 October 2019. Retrieved 31 October 2019.
- "Future US, Inc. Private Company Information". Bloomberg. Retrieved 17 June 2019.