FTSE 250 listed media company Future has acquired Dennis – the publisher of Kiplinger, MoneyWeek, The Week and IT Pro.
The acquisition expands the British publisher’s footprint in the US, with 56% of Dennis’ revenue generated from across the Atlantic.
Two of its larger titles are Kiplinger, which has more than 500,000 subscribers and an annual audience of 5.5 million, and MoneyWeek, which has 400,000 UK readers and 30,000 subscribers.
The Dennis acquisition adds more than 1.2 million subscribers and 10 media brands.
Future has aggressively grown its media portfolio with a series of M&As in recent years, including the acquisitions of GoCo Group and marieclaire.com earlier this year.
Over the past five years, Future has bought media businesses valued at £1.1bn. In 2018, it acquired most of the consumer brands division of Haymarket, the publisher of Campaign.
Future CEO Zillah Byng-Thorne said the Dennis Publishing acquisition brought "additional geographical and vertical revenue diversification”.
In a recent trading update, Future said it expected to perform better than market expectations.