As expected, the French publishing company Hachette Filipacchi has completed the acquisition of Attic Futura from the Australian printing group PMP in a deal worth £40 million.
Attic Futura publishes six titles including the market leading teen title Sugar and the fortnightly gossip magazine Inside Soap. The company employs 130 staff and had a turnover of more than £36 million in 2001.
Hachette will take control of the group at the end of the month and aims to increase its share of the young female market in the UK. However, this will bring it into direct competition with Emap and raises questions about the future of the companies’ joint venture which publishes Elle, New Woman and Red.
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