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Business

Inquiry into TI Media acquisition launched

The government has announced that an inquiry into the acquisition of TI Media by Future has been launched by the Competition and Markets Authority (CMA).

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The acquisition is under inquiry

Concerns were raised when Future announced its plans in October 2019 as the company would make up a significant part of the sector. Future has a turnover of £124.6m, and TI Media has a turnover of £209.4m.

If the £140m deal is successful, Future’s portfolio would grow to over 220 brands. Its existing portfolios such as gaming and entertainment, home, and technology would also be given a boost by TI Media’s existing brands including Country Life, Homes & Gardens, and TV Times.

Announcing the inquiry, the statement says: “The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002.

The CMA has invited comments on the acquisition from “any interested party” and the deadline for this is Friday January 31st

“And if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.”

The Enterprise Act 2002 is an act of parliament and was created to protect fair trading and competition and protect the shared interests of consumers.

The CMA has invited comments on the acquisition from “any interested party” and the deadline for this is Friday January 31st.

Once phase one of the investigation is complete, the CMA will announce whether it will put the case forward to a phase two investigation on March 16th.



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