FNET Future

RNS Number:6757W
Future Network PLC
4 January 2001

4 January 2001


               THE FUTURE NETWORK PLC ANNOUNCES OUTSOURCING
                         OF UK MAGAZINE DISTRIBUTION



The Future Network plc (LSE:FNET), the specialist consumer magazines and
websites publisher, today announces that its UK subsidiary, Future Publishing
Limited, is to outsource UK magazine distribution to Seymour Distribution
Limited with effect from 9 April 2001.


Seymour, whose clients include Time Out, John Brown Publishing, Paragon
Publishing, Egmont Fleetway and Dennis Publishing, has today signed a
five-year distribution agreement with Future Publishing to represent Future's
complete portfolio at both retail and wholesale.


The appointment, which is expected to be cost neutral to Future in the short
term, will give Future Publishing access to Seymour's specialist distribution
skills and market-leading information systems.  Future's decision to join
forces with the distributor increases Seymour's market share to 14% of the
total UK magazine market, giving Future the added benefits of a larger buying
group at a time of significant uncertainty within the UK news trade supply
chain. Seymour's annual retail sales value increases from #200m to #280m.


Glenn McMillan, Seymour's Managing Director, says :

"There is no better way to start a new year than to secure such a prestigious
publisher.  This is in line with our goal of combining quality share, quality
systems and quality people with an unrivalled commitment, and focus, to both
publishers and the retail sector."


Sue Hartley, Future Publishing's Circulation Director, comments  :

"For the past ten years we have controlled all distribution internally, but we
now believe that Seymour, with its unique partnerships, market leading systems
and undiluted retail focus, is best placed to fulfil our trade marketing
objectives."


As part of the arrangement, Sue Hartley will join the Board of Seymour
Distribution Limited as a Non-Executive Director.  Future Publishing's export
distribution and The Future Network's other subsidiaries are unaffected by
this move.


For more information:


Greg Ingham, Chief Executive, The Future Network plc           01225 442244
Sue Hartley, Circulation Director, Future Publishing Ltd.      01225 442244
Glenn McMillan, Managing Director, Seymour Distribution Ltd.   0207 396 8000

Future (LSE:FNET)
Historical Stock Chart
From Jun 2024 to Jul 2024

Future (LSE:FNET)
Historical Stock Chart
From Jul 2023 to Jul 2024