BBC Worldwide offloads magazines for £121 million

BBC Worldwide, the commercial division of UK public broadcaster the BBC, has sold its magazines unit to private equity firm Exponent.

The deal gives Exponent all of BBC Worldwide’s non-BBC branded magazines and rights to publish branded titles under license as well as specialist publisher Origin. Separately, Worldwide has sold its 50% share in Indian publisher Worldwide Media to Bennett, Coleman & Co, which owns the Times of India. The deals will deliver £121 million (€138 million) to Worldwide.

The company generates most of its revenue from international programme sales and international channels and has been under pressure to rein in its activities outside of operations directly relating to TV.