Germany’s Hubert Burda Media buys Radio Times and other UK magazines for £270m

Announcing the deal this morning, Burda noted that Immediate has more than 19m consumers each month, and described Radio Times as the UK’s most profitable media brand.Burda is a technology and media company with more than 540 brands across the world.Read more: The most rock ‘n’ roll deal of 2017: Media firm buys, and saves, music magsIn Germany, it has titles in the news, fashion, gardening, lifestyle, food and entertainment sectors.In the UK, Burda already publishes magazines including YourHome and Wedding, and recently led a funding round for Notonthehighstreet.com. Tom Bureau, chief executive of Immediate Media, added: “Since we formed Immediate with Exponent in 2011, we have created a dynamic, thriving business. We have grown revenues and profitability substantially, and have invested in people, technology and business models.“The business is primed for further growth, and I am happy that we have found a partner that shares our vision for growth and innovation. Burda is an exciting, global business and we are happy to become part of their network of entrepreneurs.” Immediate was established in 2011 following a merger of different media platforms, which was backed by Exponent Private Equity.“Immediate Media is a great platform for print as well as digital consumer businesses in the UK,” said Burda chief executive Paul-Bernhard Kallen.“The successful management team brings strength and depth across publishing, technology and e-commerce and has built a growing, profitable company with a large and loyal customer base.Read more: Non-Ascential items: Events company puts 13 magazines up for sale“We believe Burda and Immediate Media match perfectly – with regards to the business segments as well as to the entrepreneurial mindset of both companies.” A German media company has announced a deal to buy Radio Times and more than 70 other magazines.Munich-based Hubert Burda Media is understood to have acquired Immediate Media from its private equity owner Exponent and Management for £270m. Germany’s Hubert Burda Media buys Radio Times and other UK magazines for £270m William Turvill Share whatsapp Thursday 12 January 2017 12:10 pm More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPuffer fish snaps a selfie with lucky divernypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comConnecticut man dies after crashing Harley into live bearnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com whatsapp

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