Exponent to sell Immediate Media to Hubert Burda

A source close to the situation confirmed the deal, widely reported to be worth £260-275m, is to go ahead.

Exponent purchased BBC Worldwide's consumer magazine business BBC Magazines in August 2011 for £121m. It then merged the company with online publishing business Magicalia and Origin Publishing, before rebranding the consolidated group as Immediate Media.

A spokesperson for Exponent declined to comment, though Hubert publication KBB Daily has reported on the deal.

Immediate Media publishes a number of consumer magazines including the Radio Times, Top Gear and Cycling Plus. According to publicly available records, the business generated a turnover of £164.3m in the year ending March 2015, with EBITDA of £33.6m.

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• Topics
• Exits
• UK / Ireland
• Media
• United Kingdom
• Exponent Private Equity
• Trade sale