Future plc acquires Cycling News and Procycling

Future plcFuture plc has acquired two specialist consumer brands from Immediate Media: Co – CyclingNews.com and Procycling Magazine. The terms of the transaction were not disclosed.

Launched in 1995, Cycling News has a brand reach of over 3.3 million and is, says Future, the world’s biggest pro-cycling website. Procycling launched in 1999 and publishes 13 print issues annually.

Future says it is dedicated to building specialist brands and that Cyclingnews and Procycling perfectly complement its consumer hobbies portfolio. According to Future, the cycling market is set to grow from £2.6bn to over £3bn by 2020. Public interest in professional cycling in the UK has grown during the past decade, buoyed by the success of Team GB and Team Sky during this period. With each of the Grand Tours of 2018 being won by British riders, the emerging success of Geraint Thomas and Simon Yates has further driven interest and enthusiasm for cycling within the UK. This has also been reflected in a good underlying trend in the UK cycling retail market, which has seen strong growth over this period and is forecast to continue to grow towards £3.0bn by 2020.

Zillah Byng-Thorne, CEO of Future, said, “The acquisition of these brands will expand our presence in the sport and outdoor leisure vertical and is a clear demonstration of our strategy to leverage enduring content on our technology platform to further diversify our revenue streams. Cycling News and Procycling are respected brands with leading market positions that will complement our existing portfolio whilst extending our reach into new adjacent communities. These brands are leading worldwide voices on professional cycling, offering analysis, insight, gorgeous photography and exclusive interviews with the industry greats.

“We have a proven methodology and track record of integration and we are confident that this deal will drive further growth in operating profitability and cash generation. You may remember that these brands were originally published by Future before we sold them to Immediate in 2014. Buying them back is a special moment for us to honour a piece of our heritage and a fantastic opportunity to expand our portfolio into the world of cycling.”

UK, London

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Mark Allen completes deal with Rhinegold

Mark Allen GroupAfter several months’ negotiations, the Mark Allen Group has finalised the acquisition of various Rhinegold assets. The terms of the transaction were not disclosed.

These assets include: Choir & Organ, International Piano, Classical Music, Teaching Drama and Music Teacher, as well as the annual British Music Yearbook, the annual British Music Education Yearbook and the Music & Drama Expos in London and Manchester.

In a separate deal, MAG has also acquired from DC Thomson the goodwill of Opera Now, which previously was under licence to Rhinegold.

Mark Allen said: “We are pleased to have finally acquired these publications. They will add significantly to our current music portfolio which consists of Gramophone, Jazzwise and Songlines. We have exciting plans to develop these Rhinegold titles.”

UK, London

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Mark Allen Group to acquire Rhinehold Group Assets

Mark Allen GroupThe Mark Allen Group has won the bid to acquire all the assets in the Rhinegold Group. These assets include the International Piano, Choir & Organ, Classical Music, Teaching Drama, and Music Teacher publications. Rhinegold also publishes Opera Now. Through its events arm it owns and organises Music & Drama Education Expos in London and Manchester. The terms of the transaction were not disclosed.

The Rhinegold assets will add significantly to MAG’s strong position in music publishing, whose current portfolio includes the world’s leading classical music brand, Gramophone, as well as the premier magazines in their respective fields, Jazzwise and Songlines.

The parties are now entering into due diligence with the aim to complete the sale in October, after which the Rhinegold staff will be relocated from central London to MAG’s offices at St Jude’s Church in Herne Hill.

The origins of Rhinegold go back to 1977 with the launch of what is now Classical Music and the acquisition of Music Teacher. Since then the company has grown by acquisition and launch. Five years ago the first Music Education Expo was launched in London.

Mark Allen, the chairman of MAG, said, “I have been stalking Rhinegold for the past three years and I am delighted to say that my hope in acquiring these excellent assets looks like being realised. During this time, I have got to know, like and respect the current owner, Derek Smith, as well as several of the staff. There is a great deal of synergy with our own brands.”

Chief executive officer, Ben Allen added, “It is less than six years ago that we decided to enter the music market with our purchase of Jazzwise. This is a market in which we have done well and Rhinegold provides a golden opportunity for us to extend and enhance our dominant position. With increased leisure time likely to be a factor, music will loom even larger in people’s lives and we intend to be at the forefront of these trends.”

UK, London

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