Future considers more options for struggling US business

28th Sep 2011 08:05

Future, the publisher behind magazines such as Classic Rock and Guitar World, is considering "a wider range of strategic options" for its struggling US operations, having previously planned to accelerate their transformation into a mainly online business.The company said that in general terms, trends it pointed to in July have continued: revenues for the year to 30 September are expected to be down by 6% on the previous year.In the UK, which accounts for more than 70% of revenue, sales are expected to be down by 2%, against 3% at the half year stage.In the US, the position is "significantly more challenging."Referring to its previously-announced plans to accelerate the transition of Future US into a primarily digital business, Future said: "With trading conditions in the US reflecting ongoing weakness and decreasing visibility at newsstand, and an acceleration in the year-on-year growth rate in digital revenues, the board is now considering a wider range of strategic options in respect of its US operations."It continued: "A further update and the blueprint for 2012 and beyond will be provided with the year-end results."