Future plc

Last updated
Future plc
Public
Traded as LSE:  FUTR
IndustryMagazine and internet publishing
Founded1985;34 years ago (1985)
Founder Chris Anderson
Headquarters Bath, Somerset, England
Key people
Richard Huntingford
( Non-executive chairman )
Zillah Byng-Thorne
( Chief Executive Officer )
Revenue £124.6 million (2018) [1]
£18.5 million (2018) [1]
£2.9 million (2018) [1]
Subsidiaries Future US
Future Publishing
Future Australia
Website futureplc.com

Future plc is a British media company founded in 1985. It publishes more than 50 magazines in fields such as video games, technology, films, music, photography, home and knowledge. [2] It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Public limited company type of public company in the UK, some Commonwealth jurisdictions, and Ireland

A public limited company is a type of public company under United Kingdom company law, some Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company whose shares may be freely sold and traded to the public, with a minimum share capital of £50,000 and usually with the letters PLC after its name. Similar companies in the United States are called publicly traded companies. Public limited companies will also have a separate legal identity.

London Stock Exchange Stock exchange in the City of London

London Stock Exchange is a stock exchange located in the City of London, England. As of April 2018, London Stock Exchange had a market capitalization of US$4.59 trillion. It was founded in 1571, making it one of the oldest exchanges in the world. Its current premises are situated in Paternoster Square close to St Paul's Cathedral in the City of London. It is part of London Stock Exchange Group (LSEG).

The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies listed on the London Stock Exchange. Promotions and demotions to and from the index occur quarterly in March, June, September, and December. The Index is calculated in real-time and published every minute.

Contents

History

Future's founder Chris Anderson in 2007 Chris Anderson 2007.jpg
Future's founder Chris Anderson in 2007

The company was founded as Future Publishing in Somerton, Somerset in 1985 by Chris Anderson with the sole magazine Amstrad Action . [3] An early innovation was the inclusion of free software on magazine covers, the first company to do so. [3] It acquired GP Publications so establishing Future US in 1994. [4]

Somerton, Somerset Town in Somerset, England

Somerton is a town and civil parish in the English county of Somerset. It gave its name to the county and was briefly, around the start of the 14th century, the county town, and around 900 was possibly the capital of Wessex. It has held a weekly market since the Middle Ages, and the main square with its market cross is today an attractive location for visitors. Situated on the River Cary, approximately 8.8 miles (14.2 km) north-west of Yeovil, Somerton has its own town council serving a population of 4,697 as of 2011.

Chris Anderson (entrepreneur) curator of TED

Chris Anderson is a British-American businessman who is the head of TED, a non-profit organization that provides idea-based talks and hosts an annual conference in Vancouver, British Columbia, Canada. Previously he founded Future Publishing.

<i>Amstrad Action</i> British magazine for Amstrad CPC users

Amstrad Action was a monthly magazine, published in the United Kingdom, which catered to owners of home computers from the Amstrad CPC range and later the GX4000 console.

Anderson sold Future to Pearson PLC for £52.7m in 1994, but bought it back in 1998, with Future chief executive Greg Ingham and Apax Venture Partners, for £142m. [3] The company was the subject of an initial public offering in 1999. [5] Anderson left Future in 2001. [6]

Initial public offering (IPO) or stock market launch is a type of public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors; an. IPO is underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as floating, or going public, a privately held company is transformed into a public company. Initial public offerings can be used to raise new equity capital for companies, to monetize the investments of private shareholders such as company founders or private equity investors, and to enable easy trading of existing holdings or future capital raising by becoming publicly traded.

In 2007, the State of Texas filed a lawsuit against Future plc for violating the Children's Online Privacy Protection Act. [7] The lawsuit alleges that the Future plc owned website GamesRadar "failed to include necessary disclosures and obtain parental consent before collecting personal information from children." [8] The owner of the other websites settled in March 2008, [9] though the final disposition against Future plc is not public record. [10]

Texas U.S. state in the United States

Texas is the second largest state in the United States by area and population. Geographically located in the South Central region of the country, Texas shares borders with the U.S. states of Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the west, and the Mexican states of Chihuahua, Coahuila, Nuevo León, and Tamaulipas to the southwest, and has a coastline with the Gulf of Mexico to the southeast.

Childrens Online Privacy Protection Act American federal cyber law

The Children's Online Privacy Protection Act of 1998 (COPPA) is a United States federal law, located at 15 U.S.C. §§ 65016506.

In March 2010, Future announced that it was exploring the possibility of reviving its GamesMaster brand on television. The video games show had run from 1992 until 1998 but while the spin-off magazine continued to be published for a further 20 years, its last issue hit the newsstands on 1 November 2018. [11] [12]

GamesMaster is a British television programme, screened on Channel 4 from 1992 to 1998, and was the first ever UK television programme dedicated to computer and video games.

Future won the Association of Online Publishers (AOP) Consumer Digital Publisher of the Year Award for the third year in a row in 2010. [13]

Future published the official magazines for the consoles of all three major games console manufacturers (Microsoft, Nintendo, and Sony); however PlayStation: The Official Magazine ceased publishing in November 2012, and Official Nintendo Magazine ceased publishing in October 2014. [14] [15]

The company had a period of shuttering print media properties in favour of digital media, closing many titles and selling off others. In January 2012, Future sold its U.S. consumer music magazines, including Guitar World and Revolver , to NewBay Media for $3 million. [16] In April 2013, it completed the sale of major components of its UK media-music brands for £10.2 million to Team Rock Ltd. [17] In September 2013 – but bought these back for £800,000 in 2017 after Team Rock went into administration. [18]

In August 2013, Future acquired two Australian computing titles, APC and TechLife from Bauer Media Group. [19]

Future announced it would cut 55 jobs from its UK operation as part of a restructuring to adapt "more effectively to the company's rapid transition to a primarily digital business model." [20] The company announced in March 2014 that it would close all of its U.S.-based print publications and shift U.S. print support functions such as consumer marketing, production and editorial leadership for Future's international print brands to the UK. [21] Later in 2014, Future sold its sport and craft titles to Immediate Media, and its auto titles to Kelsey Media. [22]

In March 2014, it was announced that the company's CFO Zillah Byng-Maddick would become the company's fourth CEO in nine years on 1 April 2014 after Mark Wood, CEO since 2011, stepped down. [21]

In 2016, Future started to expand its print and web portfolio through a series of acquisitions. It bought Blaze Publishing to diversify into the shooting market [23] and acquired Noble House Media to increase its interest in telecoms media. [24] Future then completed the purchase of rival specialist magazine publisher Imagine [25] [26] on 21 October 2016 after receiving approval from the Competition and Markets Authority. [27] In 2018, Future made further major acquisitions. It bought the What Hi-Fi?, FourFourTwo,Practical Caravan and Practical Motorhome brands from Haymarket. Future acquired NewBay Media, publisher of numerous broadcast, professional video, and systems integration trade titles, as well as several consumer music magazines. [28] (This acquisition returned most of the U.S. consumer music magazines to Future with the exception of Revolver which already sold to Project Group M LLC in 2017). [29]

It completed the acquisition of U.S. B2C publisher Purch for $132m by September 2018. [30] [31] Future also purchased nextmedia computing and tech assets (including Atomic , Hyper , PC PowerPlay , and PC Tech & Authority) in the same month and incorporating PC PowerPlay articles into the online versions of PC Gamer. [32] [33] [34]

In January 2019, Future sold some B2B brands to Datateam Media Group. [35]

In February 2019, Future acquired Mobile Nations including Android Central, iMore, Windows Central and Thrifter. [36]

Organisation

One of Future's offices in Bath Future office Bath.jpg
One of Future's offices in Bath

The company also owns the US company Future US. [37]

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PC Gamer is a magazine founded in the United Kingdom in 1993 devoted to PC gaming and published monthly by Future plc. The magazine has several regional editions, with the UK and US editions becoming the best selling PC games magazines in their respective countries. The magazine features news on developments in the video game industry, previews of new games, and reviews of the latest popular PC games, along with other features relating to hardware, mods, "classic" games and various other topics.

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UBM plc UK-based media company

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<i>AnandTech</i> Online computer hardware magazine owned by Future plc

AnandTech is an online computer hardware magazine owned by Future plc. It was founded in 1997 by then-14-year-old Anand Lal Shimpi, who served as CEO and editor-in-chief until August 30, 2014, with Ryan Smith replacing him as editor-in-chief. The web site is a source of hardware reviews for off-the-shelf components and exhaustive benchmarking, targeted towards computer building enthusiasts, but later expanded to cover mobile devices such as smartphones and tablets. Its investigative articles have been cited by other technology news sites like PC Magazine and The Inquirer.

Pearson plc UK examination board and publishing company

Pearson plc is a British multinational publishing and education company headquartered in London. It was founded as a construction business in the 1840s but switched to publishing in the 1920s. It is the largest education company and was once the largest book publisher in the world. In 2013 Pearson merged its Penguin Books with German conglomerate Bertelsmann. In 2015 the company announced a change to focus solely on education. Pearson has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has a secondary listing on the New York Stock Exchange in the form of American depositary receipts.

Rebellion Developments Video game company

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Chorion (company) British media production company

Chorion Limited was an Australian-American-British international media production company with offices in London, New York and Sydney. The company produced TV shows and feature films, and was best known for its portfolio of entertainment brands. These included children's characters such as Paddington Bear, Peter Rabbit, The Mr. Men, The Very Hungry Caterpillar, Olivia, and Gaspard and Lisa. The company also owned the rights to the Agatha Christie Estate, Raymond Chandler, and Georges Simenon.

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<i>Retro Gamer</i> video game magazine

Retro Gamer is a British magazine, published worldwide, covering retro video games. It was the first commercial magazine to be devoted entirely to the subject. Launched in January 2004 as a quarterly publication, Retro Gamer soon became a monthly. In 2005, a general decline in gaming and computer magazine readership led to the closure of its publishers, Live Publishing, and the rights to the magazine were later purchased by Imagine Publishing. It was taken over by Future plc on 21 October 2016, following Future's acquisition of Imagine Publishing.

Tom's Hardware is an online publication owned by Future and focused on technology. It was founded in 1996 by Thomas Pabst. It provides articles, news, price comparisons, videos and reviews on computer hardware and high technology. The site features coverage on CPUs, motherboards, RAM, PC cases, graphic cards, display technology, power supplies and displays, storage, smartphones, tablets, gaming, consoles, and computer peripherals.

Future US

Future US, Inc. is an American media corporation specializing in targeted magazines and websites in the video games, music, and technology markets. Future US is headquartered in New York City with small offices in Alexandra and Minneapolis. Future US is owned by parent company, Future plc, a specialist media company based in the United Kingdom.

Space.com space and astronomy news website

Space.com is a space and astronomy news website owned by Future. Its stories are often syndicated to other media outlets, including CNN, MSNBC, Yahoo!, and USA Today.

Imagine Publishing

Imagine Publishing was a UK-based magazine publisher, which published a number of video games, computing, creative and lifestyle magazines.

nextmedia Pty Limited is an Australian media company which publishes special interest magazines in the sport, humor, and hobby. The company is headquartered in Sydney and owned by The Forum Media Group, a German-based B2B and B2C publisher.

Team17 Group plc is a British video game developer and publisher based in Wakefield, England. The venture was created in December 1990 through the merger of British publisher 17-Bit Software and Swedish developer Team 7. At the time, the two companies consisted of and were led by Michael Robinson, Martyn Brown and Debbie Bestwick, and Andreas Tadic, Rico Holmes and Peter Tuleby, respectively. Bestwick later became and presently serves as Team17's chief executive officer. After their first game, Full Contact (1991) for the Amiga, the studio followed up with multiple number-one releases on that platform, and saw major success with Andy Davidson's Worms in 1995, the resulting franchise of which still remains as the company's primary development output, having developed over 20 entries in it.

Immediate Media Company Limited is a publishing house owned by Hubert Burda Media, which acquired the company in January 2017.

Purch Group, Inc. is a digital publisher and a subsidiary of Future plc. The company, based in New York City, was founded in 2003 and engages in the online marketing business. The company operates many websites. In 2014, it rebranded itself as Purch "to better reflect its growing portfolio of brands and products focused on purchasing decisions".

Cyclingnews.com Website providing cycling news

Cyclingnews.com is a website providing cycling news and race result owned by Immediate Media Company.

References

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