BBC Worldwide now talking to one bidder about magazine business

By | Published on Thursday 26 May 2011

BBC Worldwide

BBC Worldwide has confirmed that Exponent, a private equity group which owns the media and PR information service Gorkana, is favourite to buy BBC Magazines, who publish Radio Times and Top Of The Pops magazine among many other titles.

As previously reported, the Beeb put its magazine business up for sale last amid calls from government and other media owners that the Corporation’s commercial division should focus more on broadcasting ventures. There was a lot of interest in some of the company’s key titles, but Worldwide said they wanted to sell the whole business to one buyer. Talks with both Haymarket and Bauer faltered.

Exponent are now in exclusive talks with the Beeb about buying the publishing wing. A spokesman for BBC Worldwide told The Guardian: “BBC Worldwide’s decision to move to exclusivity with Exponent has been approved by the BBC Trust. Discussions will continue with Exponent, with a view to completing an agreement this summer, which would be subject to the final approval of the BBC Trust”.