Immediate Media, the publisher of numerous road and mountain biking titles, including BikeRadar.com, has been sold to Germany’s Hubert Burda Media for an undisclosed sum.
Comprising some 70 magazine titles and employing 1,350 staff, Immediate had touted itself for sale in May of last year. The deal will now place the likes of Cycling Plus, Mountain Biking UK, ProCycling, 220 Traithlon, BikeRadar and CyclingNews, as well as the formerly acquired Magicalia cycling portfolio with the Munich-Based publisher.
Cycling Plus retained a leading position in the road cycling market in the last annual ABC figure round up with a combined monthly print and digital circulation of 43,746.
In the same round up, Mountain Biking UK posted an average monthly circulation of 28,992 copies across print and digital, while What Mountain Bike shifted around 11,131 per issue.
It was only 2014 when Immediate paid £24 million for Future Plc’s sport portfolio under which the cycling giants sat. Immediate itself was formed as the result of a 2011 BBC publishing house sale.
Immediate’s latest profit summary tallied at £40 million in EBITDA. The firm estimates that it reaches some 19 million customers across its portfolio.
Hubert Murda Media boasts over 10,000 employees around the globe and in the UK market is responsible for titles including Wedding Flowers and Your Home.
In other publishing news, owner of Dirt and Road Cycling UK Factory Media has also been sold this month.