It also owns and manages a number of high profile events including the MTN Radio Awards, the Future of Media Conference, the Peoples’ Wheels Programme, AdForum and the RedZone Roundtables.

The eventing arm of Future Group’s business will allow Times Media to develop more product extensions for its titles which currently include those of Sunday Times, The Times, Sowetan, Business Day, Financial Mail, Sunday World, as well as RiseFM, Vuma FM, IgnitionLive, and Business Day TV.

Mike Robertson, MD Times Media, says: “The acquisition adds strengths to our already market leading products and will enable us to pursue new revenue sources. The aim with our publications is to provide knowledge that enriches readers’ lives. Future Group has a proven track record in creating events that do exactly the same thing.”

The Future Group’s assets will be integrated with those of TMG to develop market leadership positions for publications and events that cater to the media, advertising and auto spheres. This will also strengthen the range and quality of offerings available to subscribers of Times Media products.

Richard Lendrum, Future Group founder and MD will continue in his current position. He believes Future Group’s existing clients will extract great benefit from the sale to “Times Media, whom we think is the most exciting media brand in the country right now.”

Jeremy Maggs, the highly respected media and marketing journalist, will remain closely engaged with the business as an executive consultant and senior member of the Future Group management committee.