MUMBAI: BBC Magazines in the UK has announced that it has sold Origin Publishing and all of the non-BBC related titles published by it to a management buy-out team led by its current MD, Andy Marshall.

BBC Magazines will retain the BBC-branded titles previously produced by Origin in a new subsidiary to be called Bristol Magazines which will be chaired by BBC Magazines MD Peter Phippen.

BBC Magazines conducted a tender process involving a number of companies and accepted Origin’s MBO proposal as the highest bid put forward. BBC Magazines will retain a minority stake in Origin Publishing for a period of time in a staged exit and Origin will continue to provide management services to certain BBC titles during this period. Andy Marshall will also act as Bristol Magazines MD.

Phippen says, "It is sad to have to sell Origin, and to be saying farewell to some very talented people but this is in line with the new remit for BBC Magazines. Origin is an excellent company and I'm sure the MBO team will ensure the business continues to prosper. For our part, we remain committed to Bristol as a publishing centre. Indeed, we are moving Homes & Antiques there and have recently announced our next launch, BBC Mind Games. I’m very excited about our new venture."

Marshall says, "I am delighted that we have the chance to take Origin forward as part of an MBO. We have a fantastic team here with great vision and passion and I know that the business will continue to grow and develop under their leadership. I am also delighted to have been asked to manage the development of the BBC’s new venture here in Bristol."

BBC Worldwide's advisers in managing the sale process and in evaluating the bids were Ernst & Young. The non-BBC titles being sold include Blonde Hair, Hair Ideas, Your Hair, Beautiful Cards, Koi and 220 Triathlon.