Future backs away from Highbury

The publisher of MBUK has decided not to buy the publisher of ProCycling. Both mag groups have gaming mags and it was news that the Competition Commission would scrutinise the deal that made Future pull out.
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Followiung yesterday's OFT's referral of the £96.5m buyout to the Competition Commission, Future has withdrawn its offer for Highbury House Communications.

The OFT believed the deal could have been anti-competitive, concentrating too many computer games mags with one pubolisher.

Future owns Edge, PC Gamer, PC Zone, the Official PlayStation2 Magazine, and Xbox Game. Highbury owns Powerstation, Play and Xpert.

Future chief executive Greg Ingham said: "Future believes that it would not be in the interests of shareholders to pursue further a possible acquisition of the issued ordinary share capital of Highbury."

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