BBC bids farewell to the Radio Times Further to this morning's report about the BBC's decision to stop publishing a print edition of Ariel magazine comes news that the corporation's commercial arm has completed its magazine sell-off.
BBC Worldwide had previously announced that it was disposing of magazine titles to the private equity firm, Exponent, including the Radio Times and Top Gear.
The deal's completion follows regulatory clearance from the Office of Fair Trading, which was obtained earlier this week.
Last week, BBC Worldwide's shareholding in an Indian publishing joint venture, Worldwide Media, was sold off to its partner, Bennett Coleman.
Together, the two disposals mean that the BBC will pick up £121m, much needed cash at present.
In welcoming the Exponent transaction, BBC Worldwide's chief executive, John Smith, spoke in glowing terms of the Radio Times's quality journalism since it was first published in 1923.
He said: "We will retain a close link with the new owners following the transaction, which I believe offers the best prospects for the business in the future."
Guardian
