Immediate Media, the Radio Times publisher with a major office in Bristol, has been acquired by German magazine giant Hubert Burda Media.
Immediate was formed in 2011 when the BBC sold its magazines division to Exponent Private Equity. It was then combined with Bristol-based Origin publishing. 
The Bristol office was further expanded in 2014 when Immediate paid £24m for Bath-based media group Future’s sport and magazine titles, including Cycling Plus, Simply Knitting and Mollie Makes. Around 130 Future staff were transferred to Immediate.
Immediate employs 1,350 staff and publishes around 70 magazine titles – among them Olive, BBC Top Gear and BBC Good Food.
Munich-based Hubert Burda Media has 10,000 employees and publishes magazines around the world – although in the UK it only has a few specialist titles including Wedding Flowers and Your Home.
Hubert Burda 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 e-commerce and has built a growing, profitable company with a large and loyal customer base. We believe Burda and Immediate Media match perfectly – with regards to the business segments as well as to the entrepreneurial mindset of both companies.”
Immediate chief executive Tom Bureau said: “Since we formed Immediate with Exponent in 2011, 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. Burda is an exciting, global business and we are happy to become part of their network of entrepreneurs.”
