BBC Worldwide confirms Exponent as preferred partner

BBC Worldwide, the commercial arm of the BBC, has confirmed private equity firm Exponent as its preferred strategic partner for BBC Magazines.

BBC Worldwide: confirms Exponent as preferred partner
BBC Worldwide: confirms Exponent as preferred partner

The announcement follows a competitive tender process started in 2010 and the decision to move into exclusive talks with Exponent has been approved by the BBC Trust.

Discussions will continue with Exponent, with a view to completing an agreement this summer, subject to the final approval of the BBC Trust.

Exponent, which owns thetrainline.com and Gorkana, first emerged as a rival to magazine publishing companies last month.

Any deal is expected to involve all the titles of BBC Magazines' core portfolio, as stated by BBC Worldwide from the outset, although any individual licensing conditions are yet to be confirmed.

The official announcement will be welcomed by staff at BBC Magazines, who have had to endure months of speculation regarding their future.

The foundation for any BBC Magazines deal was formed back in March 2010, when in the run-up to the general election, and after months of pressure, BBC director general Mark Thompson suggested change was coming to the division.

He said: "In the future, Worldwide will focus in particular on international, as opposed to UK, business development, on evolution rather than merger and acquisition, and over time will move away from exploitation in physical media like magazines."

This was followed a month later with BBC Worldwide confirming it hopes to hold preliminary conversations with interested companies, but stress any deal was dependent only finding an "appropriate partner who understands the BBC’s values and brands".

BBC Magazines publishes many of the UK's most popular lifestyle, factual and children's titles, including Radio Times, Good Food, Gardeners' World, Top Gear, BBC History Magazine, CBeebies Weekly and Doctor Who Adventures.

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

WPP confirms search has begun for Sorrell's successor

WPP confirms search has begun for Sorrell's successor

WPP has begun to look at external candidates to replace Sir Martin Sorrell as the chief executive of WPP, the company confirmed today.

Share
VR is dead, long live VR

VR is dead, long live VR

VR has huge potential but it's time to admit that we don't actually know what to do with it, writes Dino Burbidge, director of technology and innovation, WCRS.

Share
The quirky, wonderful and eye-widening world of C2
[Sponsored feature]

The quirky, wonderful and eye-widening world of C2

Say goodbye to stale buffet food, dowdy carpets and middle-of-the-road speakers. C2 is the first conference of its kind...

Share

Get news by email