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

 
William Turvill
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Immediate Media sells more than 76m magazines per year (Source: Getty)

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.

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.

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In 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.

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.

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“We believe Burda and Immediate Media match perfectly – with regards to the business segments as well as to the entrepreneurial mindset of both companies.”

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.”

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