Future has sold its French operations to WM7 for €18 million, as it continues its strategy of only investing in English language content.
Of the €18 million, €13.2 million is payable in cash and up to €4.8 million is payable in 2010 dependent on the achievement of certain revenue targets by Future France.
The group will continue to license seven of its titles to Future France.
Future France publishes 18 monthly magazines and employs 171 staff. For the year ended 30 September 2006 Future France reported revenue of €35.6 million.
WM7 jointly owned by a Paris-based financial institution (LMBO) and members of the management team of Future France including managing director Saghi Zaimi and finance director Jane Wray.
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