BBC To Sell Magazines, Look Beyond “Physical Media” In UK

The BBC is poised to sell its selection of UK-based magazines, including such titles as BBC Good Food, Gardening World, Top Gear and Radio Times. The corporation is looking to cut over $150 million USD in overhead costs and evidently plans to accomplish this by “looking to move away from physical media” and focusing more deeply on digital media as well as looking overseas for merger opportunities.

The BBC has already begun stripping itself of media such as audio books, non-BBC channels outside the UK and two radio stations. It also cut the number of websites it owns by half, resulting in an estimated loss of 600 jobs.

In the future, the corporation has said it seeks to approach possible mergers and acquisitions under “stricter guidelines” in order to grow the brand more organically. Additionally, the company is seeking to move BBC Worldwide onto a path more benefiting of its name – specifically, it seeks to look overseas in order to derive at least 2/3rds of its revenue from outside the United Kingdom by 2015.

Weigh in: Is this a good direction for the BBC Worldwide or are they throwing the baby out with the bathwater by ditching physical media?