This article was produced by Olswang LLP, which joined with CMS on 1 May 2017.
International technology, media and telecoms law firm Olswang has advised Munich-based technology and media company Hubert Burda Media on its 100% acquisition of Immediate Media, the UK content and digital platform group from Exponent Private Equity and Management.
The deal transfers ownership of several key magazine titles including Radio Times as well as a number of BBC-branded magazine titles such as Top Gear, Top of the Pops and CBeebies. The titles will add to Burda’s portfolio of more than 540 brands worldwide, ranging from household name fashion magazines such as Elle and InStyle to social media platform XING.
A family enterprise with a history spanning over 100 years, Burda combines traditional publishing with successful digital innovation. Today, the corporation is one of Germany's largest technology and media companies with an international presence and a global reputation. Burda has a long-standing track record of owning and managing major magazine titles in all parts of the globe. Burda is also a truly innovative digital leader and one of the first European media houses to branch out into the digital sphere. Investments include Nasdaq-listed internet platform Etsy or the professional network Xing.de, listed in Frankfurt Burda was one of the first publishers to recognise the transformative opportunities of the digital media revolution and began to consistently align the company for the digital transformation. With DLD (Digital, Life, Design) Burda has established a global network on innovation, digitalization, science and culture with conferences around the world.
Olswang advised on all transactional aspects of the Immediate Media deal. The firm has previously advised Burda on several investments and acquisitions in media and content companies in the UK and Europe, including most recently its investment in Notonthehighstreet.com.
Olswang Partner and Head of the firm’s International Corporate Practice Mark Bertram commented: “We were pleased to again act on another transformational transaction for the Burda group. Immediate Media's consistent growth throughout the last five years and its track record of exploiting leading print and digital publications across its platform make it an exceptional addition to the existing Burda magazine portfolio. We look forward to seeing the businesses flourish in partnership."
Mark Bertram led an Olswang team comprising Corporate Senior Associate Philip Walton; Head of Commercial and Partner Iain Stansfield and Legal Director Anna Soilleux-Mills and Rebecca Platt; Corporate Partner Chris Mackie; Share Incentives Partner Andrew Quayle; Employment Associate Rachel Easter; Corporate Trainee Edmund Roper; as well as Tax Partner Stephen Hignett and Senior Associate (Barrister) Robert Sartor.