Immediate Media Co announced yesterday, 11 January 2012, that it has entered into a binding agreement to acquire the magazine and website assets of You & Your Wedding and Prima Baby & Pregnancy from Hearst Magazines UK for an undisclosed sum.
The deal marks the first acquisition by the newly-created Immediate Media Co, formed out of the merger of BBC Magazines, Origin Publishing and Magicalia in November 2011.
Tom Bureau, CEO of Immediate Media Co, says: “I am delighted that we have acquired these strong assets. They are an excellent fit with our existing brands and this acquisition is in line with our strategy of developing strong cross-media opportunities.
After a short period of consultation, all staff working on the titles within the deal are expected to transfer to Immediate Media’s London offices.
[lnk|http://www.featuresexec.com/mediaoutlets/profile.php?pubid=8447|_self|You & Your Wedding]
[lnk|http://www.featuresexec.com/mediaoutlets/profile.php?pubid=8306|_self|Prima Baby & Pregnancy]