Future plc

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Future plc
Type Public
Traded as LSEFUTR
Industry Magazine and internet publishing
Founded 1985
Founders Chris Anderson
Headquarters Bath, United Kingdom
Area served United Kingdom
United States
Australia
Key people Peter Allen
(Non-executive chairman)
Zillah Byng-Maddick
(Chief Executive Officer)
Website http://www.futureplc.com/

Future plc is a media company. In 2006, it was the ranked the sixth-largest media corporation in the United Kingdom. It publishes more than 180 magazines in fields such as video games, technology, automotive, cycling, films and photography.[1] Future is the official magazine company of all three major games console manufacturers.[2] It is a constituent of the FTSE Fledgling Index. The company also owns the US company, Future US.

History[edit]

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]

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] In 2001 Anderson left Future.[4]

In November 2009, Future reported a fall in profits from £9.5 million to £3.7 million (a loss of 61 percent) in the fiscal year that ended 30 September 2009. Future attributed this to problems with their US market, hit by a fall in the general advertising market.[2]

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; the spin-off magazine continues to be published.[5][6]

The company has been in process of shuttering print media properties in favor of digital media, closing many titles and selling off others. In January 2012, Future sold its U.S. music-media brands, including Guitar World and Revolver, to New Bay Media LLC for $3 million.[7] In April 2013, it completed the sale of major components of its UK media-music brands for ₤10.2 million to Team Rock Ltd. [8] In September 2013, 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."[9] The company announced in March 2014 that it will close all of its U.S.-based print publications and shift US print support functions such as consumer marketing, production and editorial leadership for Future's international print brands to the UK.[10]

Future won the Association of Online Publishers (AOP) Consumer Digital Publisher of the Year Award for the third year in a row in 2010.[11]

Organisation[edit]

One of Future's offices in Bath

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.[12] Peter Allen is chairman.[13]

References[edit]

External links[edit]