German media group Hubert Burda is about to buy Immediate Media, which publishes U.K. TV listings magazine Radio Times for £260 million, Sky News reported Dec. 19, citing media industry sources.
Burda will reportedly operate Immediate as a stand-alone business rather than integrate it with its U.K. operations. Exponent Private Equity formed Immediate in 2011, which combines publishers Magicalia, Origin, and the British Broadcasting Corp.'s BBC Magazines. Other Immediate titles include Top Gear, CBeebies and Top of the Pops.
Time Inc. was also reportedly eyeing a possible takeover of Immediate.