Future shares plummet as sale talks end

LONDON - Shares in beleaguered publisher Future Network plummeted 25.9% this morning after it admitted that it had pulled the plug on takeover talks.

The publisher's shares soared 21% yesterday as news emerged that it was talking with a number of parties about a possible sale of the business.



Future, publisher of the Official PlayStation titles and Manchester United magazine, said it has abandoned the talks in favour of other options, including raising capital from existing or new shareholders, or asset sales.



Future's shares were trading at 41.5p this morning, valuing the company at around £57m. This compares with a high of 926p during last year's technology boom.



Earlier in the year, the company announced job cuts of around 500 across the UK and Euorpe in an attempt to save money. It closed new economy magazine Business 2.0 in the UK and Europe, and sold the US edition to eCompany, part of AOL Time Warner's Fortune Group for £48.8m.



Claire Billings, recommends

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