Immediate Media Co announced today, 11 January 2012, that it has entered into a binding agreement to acquire the magazine and website assets of You & Your Wedding and Prima Baby & Pregnancy from Hearst Magazines UK for an undisclosed sum.
The deal marks the first acquisition by the newly-created Immediate Media Co, formed out of the merger of BBC Magazines, Origin Publishing and Magicalia in November 2011. The company already publishes a parenting portfolio including Practical Parenting and Pregnancy magazine and the MadeforMums digital network, as well as bridal brand Perfect Wedding.
Tom Bureau, CEO of Immediate Media Co, says: “I am delighted that we have acquired these strong assets. They are an excellent fit with our existing brands and this acquisition is in line with our strategy of developing strong cross-media opportunities. The deal also demonstrates our ambition to invest in Immediate Media Co in order to create a fast-growing, dynamic business, and we look forward to welcoming the new teams.”
Arnaud de Puyfontaine, Chief Executive, Hearst Magazines UK, says: “This deal reinforces our overall strategy to focus investment on Hearst UK’s core business and digital expansion, and we are confident this move will allow both You & Your Wedding and Prima Baby to succeed within the Immediate Media stable."
After a short period of consultation, all staff working on the titles within the deal are expected to transfer to Immediate Media’s London offices.
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Notes to Editors:
Prima Baby & Pregnancy magazine is the number two magazine in the parenting sector, with an ABC of 31,926 (Jan-Jun 2011). Alongside its digital brand, babyexpert.co.uk, Prima Baby reassures and informs women during pregnancy, birth and the early years of life as a mum.
You & Your Wedding is the UK’s number two title in the wedding sector, with an ABC of 48,664 (Jan –Dec 2010). Alongside its website youandyourwedding.co.uk the brand aims to guide and inspire brides-to-be to turn their dream wedding into reality.
About Immediate Media Company
Immediate Media Co launched on 1 November 2011, combining BBC Magazines, Origin Publishing and Magicalia. With an exciting mix of market-leading brands, great talent and technology expertise, the company combines a strong publishing heritage with digital platforms and entrepreneurial flair.
It publishes some of the UK's best-known magazines including Radio Times, Gardeners' World, Good Food, Top Gear, CBeebies, olive, BBC History and Homes & Antiques, alongside highly successful specialist titles including Focus, Perfect Wedding and Junior, as well as leading digital brands such as MadeForMums.com, loveyourhair.com and visordown.com. The company has750 staff in London and Bristol, publishes 34 websites and 50 magazines, with over 1 million subscribers, a brand reach of 11 million UK consumers and revenues of £145m per annum.
Immediate Media Co is owned by Exponent.
About Hearst Magazines UK
Hearst Magazines UK is the trading name of National Magazine Company Ltd, established by William Randolph Hearst in 1910, and is a wholly owned subsidiary of Hearst Corporation. The business has interests in two joint ventures. These are partnerships with some of the world’s best publishers:
Hearst-Rodale:
A 50:50 joint venture with Rodale Inc. of the U.S., which focuses on health and wellbeing.
COMAG:
A 65:35 joint venture with Condé Nast, one of the UK’s largest magazine distributors.
Hearst Magazines UK publishes 22 magazines in the UK: All About Soap, Best, Coast, Company, Cosmopolitan, Country Living, ELLE, Elle Decoration, Esquire, Good Housekeeping, Harper’s Bazaar, House Beautiful, Inside Soap, Prima, Psychologies, Red, Real People, Reveal and Zest. Hearst Magazines UK publishes three magazines, Men’s Health, Runner’s World and Women’s Health and two websites – Triathletesworld and fetcheveryone through Hearst Rodale.
Hearst Magazines UK also publishes 21 digital magazine and pureplay sites including allaboutyou, digitalspy, handbag, netdoctor and sugarscape.
For further information please contact:
Sarah Williams-Robbins, Director of Communications, Immediate Media Co:
Sarah.williams@immediatemedia.co.uk Tel: 0208 433 3256
Jane Wynyard, Head of PR, Hearst Magazines UK:
jane.wynyard@hearst.co.uk Tel: 020 7439 5211