The Competition & Markets Authority (CMA) has ruled that Future’s purchase of TI Media does not raise competition concerns, but on the condition that Future divests itself of three closely competing products.
The competition watchdog has completed its phase-one investigation of the deal, which would create Europe’s largest magazine publisher with revenue of £400 million (US$490 million). The probe was announced in January, after it was revealed in October 2019 that Future was acquiring TI Media from its private-equity owner.
The CMA found that Future and TI Media compete closely in tech, photography, and football titles. Future publishes tech titles including TechRadar and T3, photography magazines including Digital Camera World and Digital Photographer, and football title FourFourTwo, which it bought from Campaign publisher Haymarket in 2018. TI Media publishes WorldSoccer, Amateur Photographer, and tech website Trusted Reviews.
Future is in discussions with the CMA about potential remedies and “offered to mitigate these competition issues with a view to agreeing” terms to complete the acquisition.
Full Content: Gov UK
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