Magazine publisher behind The Week is on verge of being sold to FTSE 250-listed media group Future
The magazine publisher behind The Week is on the verge of being sold to Future, the FTSE 250- listed media group.
Future, which also owns Marie Claire and football magazine FourFourTwo, is in ‘advanced’ discussions with the private equity owners of Dennis Publishing about a takeover of a large number of the company’s most well-known publications.
A report by Sky News suggested a £300million deal could be announced as early as this week.
Hot off the press: Future is in ‘advanced’ discussions with the private equity owners of Dennis Publishing about a takeover of a large number of the company’s most well-known publications
Other Dennis titles that could fall into Future’s hands include MoneyWeek and Kiplinger’s Personal Finance.
However, the report said Future won’t be acquiring Viz, the satirical magazine.
Dennis Publishing is owned by Exponent, a UK-based private equity firm. The buyout shop hired bankers from Liontree Advisors earlier this year to find a buyer for some or all of Dennis Publishing.
Reports suggest that Future has been battling it out for Dennis Publishing with other media giants such as Rupert Murdoch’s News Corporation.
Future is led by Zillah Byng-Thorne, under whose leadership the company has expanded rapidly into a digitally-led media business and launched a series of daring takeovers.
Last year, it bought price comparison website GoCompare for £594million.
A spokesman for Future declined to comment.