New company formed following OFT approval of BBC Magazines deal.
A new consumer media and publishing firm has been formed by Exponent Private Equity - combining the newly acquired magazine business from BBC Worldwide with Origin Publishing and Magicalia, the firm's existing digital platform and media company.
The deal follows regulatory clearance from the Office of Fair Trading of Exponent's acquisition of the BBC magazine titles, including Radio Times.
From November, Immediate Media will publish 34 websites and over 50 magazines, with over one million subscribers. Its wholly-owned brands will include Radio Times, Olive, Practical Parenting and Junior among others, while it will operate long-term licences for 23 BBC Worldwide titles including the Cbeebies portfolio.
It also has contract publishing deals for Top Gear and Lonely Planet magazine among others.
Tom Bureau, chief executive of Immediate Media, commented: "I am very excited to be launching a new, world class media company today. We believe that we have the brands, the technology platforms, and especially the talent to develop a great business."