Hubert Burda buys Radio Times owner Immediate Media

Hubert Burda Media has bought Radio Times owner Immediate Media from its private equity owner Exponent and Media.

Tom Bureau: Immediate Media chief executive
Tom Bureau: Immediate Media chief executive

The Munich-based media company already owns several consumer magazines in the UK including YourHome and Wedding and will now benefit from Immediate’s 19 million customers.

Hubert Media has not disclosed how much it paid for Immediate Media, which in Radio Times has the most profitable magazine media brand in the UK. 

The 100-year old German firm has more than 540 brands worldwide and is diversifying its portfolio with a number of technology investments, including a minority stake in Etsy and a majority holding in professional network  

It has also recently led the funding round of online marketplace and positions itself as a company that offers long-term growth equity for fast-growing digital technology and media companies across the world.

Hubert Burda Media chief executive Paul-Bernhard Kallen said: "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 ecommerce and has built a growing, profitable company with a large and loyal customer base."

Immediate was established in 2011 with the merger of a number of media platforms, backed by owner Exponent Private Equity.

Immediate Media chief executive Tom Bureau said: "Since we formed 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."

Immediate has also been diversifying into digital market places and e-commerce, including digital wedding planning tool and TV shopping network JewelleryMaker.

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