Sections

Future Publishing considering purchase of BBC magazines

100m bid possible for broadcaster's 34 titles

Specialist magazine and website publishing firm Future, most famous for its games portfolio, is reportedly considering the acquisition of BBC Worldwide's magazine division.

The Edge and Official Xbox Magazine publisher has yet to make a formal offer, reports the Guardian, but "has been actively involved in the sales process" for the 34 BBC titles including Radio Times, Good Food, Lonely Planet and Top Gear.

Estimates have it that the Bath and London firm would need to offer upwards of 100 million for the BBC Worldwide portfolio, but currently holds a market capitalisation of 89 million. In order to raise more funds for the possible purchase, it may have to increase its current debt of 7 million.

No other bidders are confirmed as yet, although the Guardian believes at least two more are in the frame possibly including German firm Hubert Burda.

Although sales are declining, the BBC's magazine division remains relatively profitable, having earned 18.4 million in its last fiscal year.

The sale is thought to stem from political headaches regarding the publicly-funded broadcaster's commerciality, and because the BBC is seeking to free up funds for more spending on its digital division. However, the BBC reportedly seeks to retain a degree of editorial control over its magazines following the purchase.

Related stories

Future to close Official Nintendo Magazine and website

Staff to be 'redeployed' elsewhere in company

By Dan Pearson

CVG gets a reprieve

Long-running consumer gaming outlet reportedly won't be closed, but will still suffer staff cuts

By Brendan Sinclair

Latest comments (2)

Jamie Watson Studying Bachelor of Games & Interactive Entertainment, Queensland University of Technology5 years ago
im not sure if this is good or bad...
0Sign inorRegisterto rate and reply
This is bad, very bad. The BBC is the best thing ever. Government bash all you want, but it's hard to beat the BBC on good entertaining content that is also educational. I want that content to remain in the hands of the BBC.
0Sign inorRegisterto rate and reply

Sign in to contribute

Need an account? Register now.