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Future Stock Dips As CMA Finds TI Media Acquisition Raises Competition Concerns

Shares of Future plc. (FUTR.L) were losing around 12 percent in the early morning trading in London after the platform for specialist media announced Monday the findings by the Competition and Markets Authority or CMA on the acquisition of TI Media.

It was on October 30, 2019 that Future announced the proposed acquisition of TI Media, with the completion of the deal conditional upon clearance from the CMA.

Future now noted that the initial Phase 1 CMA investigation has found that the two companies compete closely in photography and football magazines and technology websites. The relevant titles that TI Media own in these spaces are WorldSoccer, Amateur Photographer and the technology website Trustedreviews.com.

According to the CMA, Future's purchase of TI Media does not raise competition concerns, subject to the sale of three closely competing products.

Future said it is in discussion with the CMA on the potential remedies to be offered to mitigate these competition issues.

Future said it will provide an update on completion of the TI Media acquisition in due course.

In London, Future shares were trading at 818 pence, down 12 percent.

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