Private equity firm in running for BBC Magazines

Private equity firm Exponent has submitted a bid for the BBC Magazines portfolio.

BBC Magazines: private equity group Exponent submits bid
BBC Magazines: private equity group Exponent submits bid

Exponent, which owns thetrainline.com and the Ambassador Theatre Group, has emerged as a rival to publishing companies in the competition for assets such as the Radio Times.

Publishers Hubert Burda and Future, which both expressed an interest in the portfolio at the start of the process, are not involved at this stage.

Bauer and H Bauer, which are believed to have put forward a joint offer to the BBC, are understood to have neither withdrawn from the process nor had their offer rejected.

The sale process is believed to be complicated by terms in which titles linked to BBC programmes, such as Top Gear, will be offered under licensing deals and with oversight by a BBC editorial board.

It is understood that a management buyout also remains an option that financial advisor KPMG could be asked to explore.

In its last financial year ending 31 March 2010, BBC Magazines reported revenue of £168.3m, and profits of £18.4m.

Out of that profit, lifestyle and specialist magazines including Radio Times, Good Food, Gardener's World and Top Gear, contributed £16.5m.

In March, Exponent acquired meat-free brand Quorn for £205m from Premier Foods and Intermediate Capital Group.

Exponent and BBC Magazines declined to comment.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Sunday Times' Camilla Cavendish reminds us to value newsbrands

Sunday Times' Camilla Cavendish reminds us to value newsbrands

The media world is a poorer place for the departure of Sunday Times investigative journalist and columnist Camilla Cavendish, says Newsworks' Rufus Olins.

Share
Northern & Shell promotes Chris Kelly to replace Jane Putley

Northern & Shell promotes Chris Kelly to replace Jane Putley

Northern & Shell, which publishes OK! Magazine and the Daily Express, has promoted Chris Kelly to head of print, replacing Jane Putley who is leaving in June to join News UK as head of news.

Share
From gatherers to hunters
[Sponsored feature]

From gatherers to hunters

Through the rise of social networking, technology has transformed media recruitment - but, even in the field of IT employment, it remains very much a people business.

Share

Get news by email