Specialist publisher Future has offered £140m for generalist TI Media’s 41 brands, which will give Future 220 global brands upon expected completion in Spring 2020. The acquisition, which includes wholesaler Marketforce, is contingent upon shareholder and CMA approval.
Future is the darling of publisher stocks, pursuing an energetic growth and scale strategy, and diversifying revenues through digital and experience innovation.
How Future’s culture of experimentation and optimisation will work with TI Media’s more general portfolio is an open question. Only time will tell if the overall portfolio balance will work.
A tale of two portfolios
How different is Future’s model?
Future’s M&A strategy
List of charts/tables
Figure 1. Acquisition pathway of TI Media in recent years
Figure 2. TI Media revenue breakdown (£m)
Figure 3. Overlapping categories by number of brands
Figure 4. Future’s monetisation model for each vertical
Figure 5. Future’s acquisitions since 2017 (value)