FFW advises BBC Worldwide on Origin Sale
08 May 2006
Field Fisher Waterhouse (FFW) has advised BBC Worldwide on the
sale of Origin Publishing Ltd and all of the non-BBC related titles
published by it to an MBO (Management Buy-out) team led by its
current Managing Director, Andy Marshall.
BBC Magazines will retain the BBC-branded titles previously
produced by Origin in a new subsidiary in Bristol to be called
Bristol Magazines Ltd, which will be chaired by Peter
Phippen.
BBC Magazines conducted an extensive tender process involving a
significant 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
Ltd 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 Managing Director of Bristol
Magazines Ltd.
Corporate partner Andrew Blankfield led the FFW team, assisted
by Laurence Lumb and Carlton Durrant. Osborne Clarke acted
for management. BBC Worldwide's advisers in managing the sale
process and in evaluating the bids were Ernst & Young.
FFW also advised the BBC last year in relation to its £166
million sale of BBC Broadcast to Macquarie Bank of Australia
following an auction process.
For further press information, please contact:
Ben Girdlestone, Communications Manager, Field Fisher
Waterhouse on +44 (0)20 7861 4960
Louise Eckersley, PR Executive on +44 (0)20 7861 4120