This acquisition takes Future into a new special-interest market, which has shown strong signs of growth, as more and more Britons move to or buy a second property in Spain.
Spanish Homes Magazine was first published in 1991 and turned quarterly in 1997 and then bi-monthly from 2003. It is more dependent on advertising than on circulation revenue.
The magazine had a turnover for the year to April 30 2004 of £740,000, with prfoit of around £400,000. The business has six staff and is being acquired free of financial debt.
Greg Ingham, chief executive of The Future Network, said: "This acquisition is in line with our stated strategy of acquiring special-interest titles. It's an interesting sector with attractive growth characteristics."
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