BBC Worldwide given the green light for a sale of its magazine titles

BBC Worldwide has been given the all clear to push ahead with the sale of its magazines division.

The BBC Trust, the corporation's sovereign body, has finally approved the transaction after several months of waiting for a decision. An information memorandum is due to be sent out to interested parties, thought to number over 30.

The BBC Worldwide’s aim is to find a buyer willing to invest in developing the magazine portfolio, and that would “enable our portfolio of profitable market-leading titles to meet its potential while still protecting the BBC’s editorial standards and brands.”

Worldwide would not want to let go of all its magazines in a sale - titles including Doctor Who and Top Gear are seen as key brand extensions of the shows. Titles such as the Radio Times, on the other hand, are not considered to be as important.

With a circulation of 947,131 for the six months to the end of June, the Radio Times is the most profitable title and faces being sold off entirely after 87 years of being owned by the BBC.

It is thought likely that the buyer would secure a majority share in the division. Worldwide is also considering putting its magazines into a new company, in which the buyer would take on a 75 per cent stake. A sale of this kind would command £135 million, it has been estimated.

As a whole, the magazine business is worth about £180 million. BBC Worldwide is the fourth largest magazine publisher in the UK.

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