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UK's Future Plc to buy 'The Week' publisher for $415 million

By Reuters

-Future Plc is set to buy the owner of “The Week” and “Moneyweek” for 300 million pounds ($415.4 million), giving the British media company a new source of subscription revenue and a stronger foothold in the United States.

Future said on Monday it would buy Dennis Publishing Ltd from Exponent Private Equity LLP in a deal that also includes the publications Kiplinger, Science & Nature, IT Pro, Computer Active, PC Pro, Minecraft World and Coach.

The deal, however, does not include Dennis-owned publications Viz, Fortean Times, Cyclist and Expert Reviews.

More than half of Dennis’ revenue comes from the United States, and subscriptions represent three-fourths of its overall revenue.

Future expects the acquisition to boost its earnings significantly.

($1 = 0.7221 pounds)