Marine boating titles sold as part of £140m media deal

United Kingdom
31st October 2019

Marine boating titles sold as part of £140m media deal

Marine boating titles sold in media deal
Business Type: Media Company

Marine boating titles Motor Boat & Yachting, Yachting World, Yachting Monthly and Practical Boat Owner are among publications changing hands in the sale of TI Media to Future PLC.

The transaction, by the Epiris private equity company, sees Future, a UK-based publisher of consumer magazines and websites, take over TI Media’s 41 current publications, including the marine boating titles, plus website Yachting and Boating.com (YBW).

New owner Future publishes over 150 digital and print brands, many of which are very niche, and had total sales of £124.6m for its financial year ending 30 September 2018.

Zillah Byng-Thorne, chief executive of Future, said:

Boating magazine covers

The marine boating titles sold have a long and stable publishing history – Yachting World is the oldest in the fleet, being first published in 1894, while Motor Boat & Yachting has a history dating back to 1904. Issue 1 of Yachting Monthly was launched in May 1906 from the offices of The Field in London, with the newest edition in the library, Practical Boat Owner, first hitting the shelves in 1967.

International Boat Industry (IBI) left the TI Media Group, then known as Time Inc UK, in April 2017 following a management buyout.

Today all titles have traditional print and digital editions. Having had five owners in as many years – Time Warner, Time Inc, Meredith, Epiris and now Future – the 30 or so strong staff on the marine group are looking forward to a more stable and committed environment under which to operate.

TI Media (the former IPC Media Group and later Time Inc UK) has a turnover of £209m, according to its last annual return to December 2018. Among its better known publications TI Media lists Country Life, Horse and Hound, The Field, TV Times and several home and women’s interest titles.

Deal Summary

  • Financials: According to the statement Future paid a multiple of x4.9 (pre £15m of anticipated synergies) on TI’s adjusted EBITDA of £28.7m for the 12 months through the end of May 2019, on continuous revenues for the period of £201m.
Visit TI Media Visit Future plc

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