Immediate Media Co, the special interest content and platform company, today announces an agreement to acquire BBC Good Food, the UK’s biggest food media brand, from BBC Studios.
Hubert Burda Media, the Munich-based technology and media company, today announced the 100% acquisition of Immediate Media Co. from private equity investor Exponent and Management.
Immediate is the UK’s leading and fastest-growing special interest content and platform company. It is home to some of the UK’s best-loved brands – including Radio Times, the most profitable magazine media brand in the UK. Immediate engages over 19 million passionate consumers each month, offering them world-class content and innovative new products and services, including e-commerce and TV shopping.
Hubert Burda Media and Exponent have agreed to not disclose financial details of the transaction.
Hubert Burda Media (“Burda”), headquartered in Germany, is a technology and media company with over 540 brands world-wide. A family enterprise with a history spanning over 100 years, Burda combines traditional publishing with successful digital innovation. Today, the corporation is one of Germany’s largest technology and media companies with an international presence and a global reputation. Burda has a long-standing track record of owning and managing major magazine titles in all parts of the globe. In Germany, the company holds a very successful magazine portfolio in the News-, Fashion-, Gardening-, Lifestyle-, Food- and Entertainment-Segments. Burda is also a truly innovative digital leader and one of the first European media houses to branch out into the digital sphere. Investments for example include a minority stake in Nasdaq-listed internet platform Etsy and a majority in the professional network Xing.de, listed in Frankfurt. Burda was one of the first publishers to recognize the transformative opportunities of the digital media revolution and began to consistently align the company for the digital transformation. With DLD (Digital, Life, Design) Burda has established a global network on innovation, digitalization, science and culture with conferences around the world.
In the UK, Burda publishes several consumer magazines such as YourHome and Wedding. The company has recently led the funding round of the online marketplace Notonthehighstreet.com. Burda provides long-term growth equity for fast-growing digital technology and media companies in Europe, the U.S. and Asia and is a partner for visionary entrepreneurs, leveraging the company’s capital, brands and sector expertise, particularly in the areas of business expansion, internationalization and localization.
Immediate was established in 2011 following the merger of a number of media platforms, backed by Exponent Private Equity. Since then, the company has undergone five years of rapid growth driven by a focus on world-class content and a strategy of technology innovation. Already a magazine media leader through its range of specialist brands in the UK, Immediate has also diversified into digital market places and e-commerce, including the UK’s leading digital wedding planning tool hitched.co.uk and TV shopping network JewelleryMaker.
Building on the strengths of the company, the partners will realize further growth by accelerating its transformation. The goal is to build a fully transformed business with a strong digital footprint, diverse revenues and business models and interwoven content and commerce across brands, audiences and platforms.
“Immediate Media is a great platform for print as well as digital consumer businesses in the UK. 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. We believe Burda and Immediate Media match perfectly – with regards to the business segments as well as to the entrepreneurial mindset of both companies.”
Paul-Bernhard Kallen, CEO of Hubert Burda Media
“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.”
Tom Bureau, CEO of Immediate Media Co.