C&VG faces suspension as Future buys Dennis' games portfolio
Magazine publisher Future Network has acquired Dennis Publishing's remaining videogames magazines, Computer & Video Games and PC Zone, in a UKP 2.5 million deal that sees Dennis exiting the game magazine market.
Magazine publisher Future Network has acquired Dennis Publishing's remaining videogames magazines, Computer & Video Games and PC Zone, in a UKP 2.5 million deal that sees Dennis exiting the game magazine market.
The deal also covers Dennis' videogames website, computerandvideogames.com - but while the website is expected to continue to operate, with Future CEO Greg Ingham describing it as "[adding] to our existing successful online presence," plans for the C&VG magazine are less clear.
The circulation of C&VG collapsed 40 per cent year on year in its last audit, dropping to just over 19,000, and according to a statement made to the City this morning, Future expects to suspend the publication of the long-running title "in its current form."
PC Zone, meanwhile, is expected to join the Future portfolio - which also includes its larger competitor, PC Gamer. Zone's circulation for the six months to June 30 2004 was over 41,000 copies per month.
The turnover for the division amounted to UKP 4 million for the year ended December 31 2003, and estimated profits were in the order of UKP 0.5 million. Future expects the acquisition to have a positive impact on its bottom line for the 2005 financial year.
Staff from both computerandvideogames.com and PC Zone are set to move to the London offices of Future's FXM International subsidiary.
"This acquisition is a useful addition to our portfolio of titles in the games area," commented Future Network CEO Greg Ingham, "and the well-respected computerandvideogames.com site adds to our existing successful online presence."