Future and Burda drop bids for BBC Magazines
BBC Worldwide has entered into detailed discussions with Bauer Media Group as Future and Burda drop out from the race to be appointed publishing partner to the BBC’s magazine division.
This includes the rights to 34 separate brands including Top Gear, Radio Times and Gardeners World.
Bauer are now negotiating the nitty gritty of a putative deal, which will involve setting up a series of licensing agreements for the portfolio, although the possibility of a management buy out remains on the table.
A deal is expected to be concluded in the coming weeks ahead of a public announcement early in the summer.
Any deal will be subject to the scrutiny of competition authorities however, mindful that a combined BBC/Bauer operation would command 75% of the TV listings market in Britain.