Exponent takes over BBC magazines
The 34 BBC magazines up for sale, including titles such as Radio Times and Top Gear, are being acquired by the private equity firm Exponent for 121 million pounds. Some titles will now become the direct property of Exponent, while Exponent will receive the license rights for others, especially magazines based on BBC programmes such as Gardeners World or BBC Wildlife.
In the early phase of the sales negotiations, German publishers Bauer Media and Burda Media, among others, also sought to acquire the titles of BBC Worldwide, the commercial subsidiary of the British broadcaster. The sale to Exponent still has to be approved by the Office of Fair Trading, which should happen this fall, according to The Guardian. BBC Worldwide also sold its 50 percent stake in its Indian publishing joint venture to partner Bennett Coleman & Co Ltd, publisher of the Times of India.
