BBC Worldwide is inviting bidders for its magazine division to make an approach before Christmas, according to Press Gazette.
The Corporation’s commercial arm has been given permission to sell off BBC Magazines, which includes Top Gear and Radio Times, by the BBC Trust.
The division’s portfolio is made up of around 30 mainly spin-off titles from popular television shows.
The Corporation wants to sell its magazine business to a single publisher. But it could form a new business with the partner organisation taking a majority share.
BBC Magazines, which is the fourth biggest magazine publisher in the UK, increased its pre-tax profits to £18.4m in its last financial year on turnover of £168.3m.
(Source: Press Gazette)