BBC Worldwide is selling its magazines portfolio for nearly £121 million via two deals, Financial Times reports. Private equity firm Exponent is taking over all the non-BBC-branded magazines and the rights to publish its branded titles, such as Top Gear.
As part of the deal, the owner of the U.K.’s Ambassador Theatre Group will get the ownership of 33 magazines of BBC worldwide. Separately, BBC is also the selling its 50% shareholding in Worldwide Media to a fellow shareholder Bennett, Coleman & Company, owner of Times of India.
Click here for the story from Financial Times.
Click here for additional coverage from The Guardian.