Magazine article Folio: the Magazine for Magazine Management

VS&A and BBC Create $100M Consumer Media Company

Magazine article Folio: the Magazine for Magazine Management

VS&A and BBC Create $100M Consumer Media Company

Article excerpt

Joint venture will spend $300M on acquisitions in natural science children and lifestyle segments.

BBC Worldwide Americas Inc., the North American subsidiary of the British Broadcasting Company, has joined with Veronis, Suhler & Associate's $1 billion buyout fund to create a new $100 million U.S. consumer media company.

According to the partners, their as-yet-unnamed, 50-50 joint venture will focus initially on acquiring consumer lifestyle and informational publishing properties, all the while focusing on cross-media expansion potential.

To do that, Peter Phippen, who oversees the new venture as BBC Worldwide America president and CEO, says the new venture will incorporate BBC's existing North American video department.

Phippen says the venture, which was announced in early February, is likely to spend about "$300 million on acquisitions to get us going." The venture plans to look at segments such as natural science and children's titles (BBC is the largest publisher of children's content in the United Kingdom), as well as lifestyle magazines covering areas such as home, gardening and food.

"We've got a number of things in mind and we're in the position to get into serious discussions," Phippen says. "We want to talk to a few people and explain what we can bring to the market. We're not just a magazine publisher."

Overseas strategy

BBC is also aiming to expand its ranking as the third largest magazine publisher in the United Kingdom and become a major U. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.