UK-based media and publisher Future has announced its intention to acquire TI Media, a magazine and digital media company, which is the publisher of popular UK media operation Cycling Weekly. The total consideration for the acquisition is £140 million in cash.
TI Media is a UK-based, print-led consumer magazine and digital publisher with deep industry heritage and a portfolio that incorporates 41 brands. The acquisition by Future extends its reach in a number of areas including: home, consumer technology and country sports and cycling.
A release from Future noted, ‘This acquisition signals one of the most important moments in Future’s history, expanding our portfolio to more than 220 global brands and giving us the opportunity to lead some of the magazine world’s most iconic titles.
The acquisition of TI Media introduces three new verticals to Future’s consumer portfolio: lifestyle, women’s interest and sport.
Future CEO, Zillah Byng-Thorne, said “Following a record-breaking year of huge organic growth at Future, I am delighted that we are now in a position to announce the proposed acquisition of TI Media. We have long admired TI Media, and I am thrilled at the prospect of bringing our exceptional teams together. I truly believe that through our combined passion, determination and expertise that we will be a super-force of specialist media.”
Back in 2014, Future sold its sport titles – such as BikeRadar.com, Cycling Plus, Mountain Biking UK and Procycling – to Immediate Media. Then, in early 2019, Future acquired Cycling News and Procycling Magazine back from Immediate.
With the acquisition of TI Media, Future’s cycling related media portfolio includes Bike Perfect, Cycling News, Cycling Weekly and Pro Cycling.