Immediate Media Co today announces an agreement to acquire BBC Good Food - including the digital and live events businesses - from BBC Studios.
The deal, Immediate’s first acquisition under the ownership of Hubert Burda Media, continues the company’s development as it looks to accelerate its growth through strategic M&A and product development.
The brand's website, bbcgoodfood.com, counts 22 million monthly visitors globally; the BBC Good Food magazine has 1.3million monthly readers; whilst the BBC Good Food show live events get over 250,000 visitors a year.
Immediate Media CEO Tom Bureau says: “We are excited to be acquiring BBC Good Food. Not only is this the biggest brand in food publishing and media, but is absolutely on strategy for Immediate, given our focus on high value special interest communities, and cements our market leadership in the Food sector.
“We see significant opportunity in growing the brand, which we know well from working closely with BBC Studios. I’m looking forward to welcoming the hugely talented BBC Good Food team to Immediate, and we are committed to continue to produce the world-class content they are known for, whilst developing the brand across all platforms.”
BBC Studios’ president for the UK and Australia/New Zealand, Marcus Arthur, commented: “I’m really pleased that we’ve not only found a terrific new home for the BBC Good Food team and brand, but also the right home. Immediate Media is a long-trusted partner of BBC Studios and has already guided several of our former magazines to even greater heights. Tom and his team's plans to invest further in the Good Food brand will build on its continued strong performance and consumer popularity."
BBC Good Food will form a new food business portfolio for Immediate. Headed up by BBC Good Food’s publishing director, Chris Kerwin, who takes up the role of food managing director, reporting to group managing director, Alison Forrestal.
Under the terms of the deal, the BBC Good Food brand name and the bbcgoodfood.com URL are licensed to Immediate by BBC Studios.
Immediate Media and BBC Studios are members of FIPP.
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