from the PR:
BBC Worldwide and Exponent Private Equity (“Exponent”) have announce that they have signed a sale [£121m] and licensing agreement for the publication of titles currently published by BBC Magazines, BBC Worldwide’s consumer magazines business. Under the terms of the deal Exponent will acquire, in full, Radio Times and a number of magazines less closely aligned to the BBC, as well as the rights to publish BBC-branded titles under licensing and contract arrangements.
Under the terms of the deal, the titles and brands currently published by BBC Magazines will fall into one of three categories:
Sale – Radio Times and a number of magazines less closely aligned to the BBC, including olive and Gardens Illustrated, are being sold outright to Exponent.
Licence – BBC and BBC programme-branded titles will be licensed (including Gardeners’ World, BBC Wildlife), with BBC Worldwide not retaining ownership but keeping a strong continuing editorial interest under licensing agreements.
Contract – Titles relating to key BBC Worldwide brands (Top Gear, Good Food and Lonely Planet) will be retained by BBC Worldwide and published by Exponent under contract publishing arrangements.