FFW advises BBC Worldwide on Origin Sale

8 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.

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For further press information, please contact:

Ben Girdlestone, Communications Manager, Field Fisher Waterhouse on  +44 (0)20 7861 4968
Louise Eckersley, PR Executive, Field Fisher Waterhouse on +44 (0)20 7861 4120