Commenting on the acquisition Robert Price, Future Publishing's Managing Director, says:
"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 successful 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."
Future's Games Publishing Director, Mia Roberts adds:
"PC Zone is a great magazine; we are very excited about it being part of our portfolio. We have no immediate plans to make changes to the title, and as such it will continue to compete with PC Gamer. We also believe that there is great online potential in computerandvideogames.com, in addition to our existing games site gamesradar.com, and we plan to run it as part of our online business."
PC Zone is the UK's longest-running PC games magazine, having been launched in April 1993. It sold a monthly average of 41,073 copies during the six months to 30 June 2004 (source: ABC). The title will be published from Future's London games group by Publisher James Ashton.
CVG magazine experienced a 40% reduction in year-on-year circulation and for this reason, Future anticipates suspending the publication in its current form.
Turnover from these titles for the year ended 31 December 2003 amounted to £4.0m and the estimated profit attributable to the assets being acquired was £0.5m. The business has 21 staff and is being acquired free of financial debt.
This month Future Publishing also signalled its move into two new special-interest sectors with the announcement on 4 August of the acquisition of Spanish Homes Magazine, while on 19 August it announced the launch of Hair Style & Beauty, a new title for the women's hair and beauty sector.