BBC seeking partner to run magazine division

The BBC is looking for a business partner to run the magazine division at its commercial arm BBC Worldwide.

The magazine division’s publications include Top Gear, Radio Times and Gardeners’ World, among others. Last year, the division made an operating profit of £11.5 million last year, down 31% year on year, on sales of £182 million, up 2.4% year on year.

According to a report in today’s Times, the BBC could sell some titles such as the Radio Times, while licensing the others for the new partner to publish.

The news follows an eight month review, and sees KPMG appointed to help find a partner.

A spokesman said: “BBC Magazines hopes to hold preliminary conversations with interested companies in the coming weeks.

“But we will only proceed if we can find an appropriate partner who understands the BBC’s values and brands, and if we are able to structure a deal that works for both parties and delivers value back to the BBC.”

According to ABC figures for the six months to the end of December, the BBC Worldwide magazines portfolio had an average circulation of around 3.1 million for the period.