Future pursues scale, subscriptions & US growth with $415m Dennis acquisition

Future Publishing is pursuing scale to help it weather a turbulent publishing sector after laying down £300m ($415.4m) to acquire Dennis from Exponent Private Equity.

The bold move brings the British publisher closer to American readers than ever before, drawing prestigious publications into its fold as well as lesser-known specialist titles including Minecraft World, Science and Nature and PC Pro.

Dennis draws more than half of its revenues from across the pond, with subscriptions generating an overwhelming three-fourths of overall revenue, making it a snug fit for the London-based business as it prioritizes its subscription growth.

The deal will be a boon for Future’s newly-established finance division, with established titles such as Moneyweek and Kiplinger’s Personal Finance providing powerful clout.

Not all Dennis titles will make the transition to Future, however, with uncertainty now shrouding satirical magazine Viz as well as Fortean Times, Cyclist and Expert Reviews – all of which will remain with Exponent.

Future has expanded to become a £4.5bn publishing colossus, counting popular titles from lifestyle bible Country Life to cinephile favorite Total Film and footie-focused FourFourTwo.

In common with the industry as a whole, Future has been battling to offset a steady bleed of readers to online channels, placing mounting pressure on advertising revenues and fueling a rapid pivot toward digital content.

Responding to these changes, Future has been on a purchasing binge, expanding its catalog of titles to over 200 through takeovers of Newbay Media and Centaur Media among others while simultaneously diversifying through moves such as the £600m takeover of GoCo Group, owners of price comparison website GoCompare.