It's worth remembering that there will have been a huge amount of leveraged long positions stopped out this morning. If the price settles on the 200 day MA around 880
by the end of the day this could be a very profitable long term trade, following this wash out the next rally could have legs. |
Looking back at Feb 2023, the announcement of Jon Steinberg as CEO didn't exactly do wonders for the share price back then. |
Headline: Future Plc drops as Future CEO sees no bright Future in UK (I myself have 12 return flights booked over the next 12 months to try to escape the miserable atmosphere in the UK) |
Lets give the ceo the benefit of the doubt, he could have family sickness etc i don't think the timing could ever be strategically timed well lets be honest. Anyway selfishly it has enabled me to buy back in, one of the few shares that i managed to sell at the top so i am pleased. Looking forward to upbeat results and outlook in Dec. Go Compare! |
It makes the buyback look a little silly. Announce potentially negative news just as the buyback is coming to an end. Point gun at foot and pull trigger. |
where is the next chart support though....does not look too good... |
Plus the chart looked like the edge of a ski sloe waiting for such news |
Yeah think I agree with Sundance. It doesn’t change the fundamentals of the business and all other updates suggest business as usual. If it dips real low might even add more! |
12 month notice has something. To do with it |
Not sure this news is worthy of a 9% decline, 12 months notice so plenty of time to recruit a new CEO or better still promote internally. Disruptive for sure but new CEO, new ideas etc. Funny old market this. |
I'd go with the former.
If I was a holder I would sell before the likely decline. |
jumping before he was pushed? Or fleeing from Labour govt. |
This doesn't look good.
Was he home sick? |
CEO leaving |
Does look to be trickling down, currently pinned to the 980 area. Interesting to see what happens when the buyback ends in a few days. Marshall Wace increased their short 10 days ago so could get driven lower unless there's news. |
This is gonna trickle all the way back down to where it was last year isn’t it? I even used GoCompare to buy car insurance to show some support 😂 |
Marshall Wace increased their short to 1% on 4th Oct |
 Country Life publisher Future considered breaking itself up amid 'strategic review'
Updated 23:23, 05 Oct 2024
By Mark Shapland
OC&C conducted a review that lasted for more than three months
London-listed publisher Future held a ‘strategic review’ in late 2023 that resulted in management mulling a break-up of the company.
Global consultancy firm OC&C conducted a review that lasted for more than three months and finished in January 2024, a well-placed senior source told The Mail on Sunday.
FTSE 250-listed Future publishes titles such as Country Life, Homes and Gardens, Decanter, FourFourTwo and Marie Claire.
Royal connections: Queen Camilla has featured in Country Life magazine
It also owns insurance comparison website GoCompare.
At the time, chief executive Jon Steinberg had been in the job for a little over six months and was looking for a new strategy for the company amid a sharp drop off in its share price.
Future had thrived under the previous boss, Zillah Byng-Thorne, but had begun to stagnate.
Following the review, OC&C advised that Future be broken up and that Steinberg focus solely on growing the consumer magazine subscription business.
It was suggested that its business-to-business titles, including SmartBrief and GoCompare, be put up for sale as they were labelled ‘non-core̵7; to the rest of the organisation.
Some titles such as The Week were also flagged for a potential sale.
Future held a ¿strategic review¿ in late 2023 that resulted in management mulling a break-up of the company
The source said: ‘The review was taken seriously and there was exploration by the board about selling some businesses that were not aligned. Ultimately, it was decided to keep the company together and solve the issues internally.’
Under Byng-Thorne, the business grew rapidly from 2014 to 2023, acquiring titles and building a solid subscription model. ‘Zillah was excellent at keeping all the plates spinning,’ the source added.
The share price over her period in charge gained an astonishing 3,500 per cent and she was hailed for her ability to drag legacy media brands into the internet age.
The business benefited from the pandemic as readers flocked to its niche websites, helping it to outperform larger media peers.
Future's share price has languished since 2023 and on Friday it closed down 0.1 per cent at £9.92, giving the company a market capitalisation of £1.1billion.
The former board member continued: ‘There were plenty of shareholders who enjoyed the ride up and made a lot of money, but there will also be those who are still invested and are waiting for Future to turn itself around.’ |
not listened into the call, but the query I would have with these (and many more) is the impact on figures of sterling strength against the dollar I think |
What’s with the big drop.. trading update sounds like things are fine? |
Agreed, was just commenting on the potential meaning of the company's own words 'ongoing evolution of the media landscape, including updates in the search market' |
People said the same about Keywords. AI will destroy their business (translation, content creation). Acquired at a 65% premium in the end. |
Generative AI and how it is changing content creation as well as how the large search engines are now providing more AI powered information within their search results potentially reducing clickthrough rates to 3rd party websites. |
What is the 'ongoing evolution of the media landscape, including updates in the search market'?
Is it something of existential threat for Future, or could it capitalise from it? |
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