The Competition Commission (CC) has today formally cancelled the reference concerning the proposed acquisition by Future Plc of Highbury House Communications, after the CC received assurances from Future that the deal had been abandoned.
The case was sent to the CC earlier in the month, after concerns were raised that the merger of the two publishing companies would result in a substantial lessening of competition within the computer games magazine UK market (see
Wireless Revenues Driven By ‘Storming’ Success Of talkSPORT).
If Future’s bid for its rival had gone ahead the deal would have created the UK’s third-largest consumer magazine group, said to be worth around £96.5 million (see Highbury Confirms Future Takeover Bid).
The merger would have seen titles such as Fast Cars and Real Homes added to Future’s existing portfolio, which includes several other motoring magazines, as well as special interest titles Guitar, Maximum PC and Cross Stitcher. The combined group would have overtaken the BBC’s magazine division to make it the third largest consumer magazine publisher in the country.
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