International consumer magazine group, Future Network, has today announced that it has acquired two UK games magazines from Dennis Publishing for £2.5 million.
The purchase of
PC Zone and
Computer & Video Games (CVG) from the US publishing house, includes sister website, computerandvideogames.com.
Managing director, Robert Price said: “This acquisition is good news for Future because it fits perfectly into our games group, where we’ve proved over the years that we are a successfully portfolio publisher. Deals like this are part of our UK growth plans; this is our second acquisition this month and we’re announcing a number of launches over the next few weeks.”
PC Zone is the UKs longest-running PC games title, with a monthly average circulation of 41,076 during the six months to June 2003.
In the same period, CVG sold a monthly average of only 19,162 copies, down 40% year-on-year and as a result, the company said that it expects to suspend this publication in its current form.
In 2003, the acquired titles generated turnover of £4 million, while profit reached £0.5 million.
Related Links
