Mode Media suddenly announced its demise last week withoutĪctually explaining what happened. Mode Media In Quiet Mode? At the time, we experienced the phenomenon of calling the then 10th largest Web site - once valuated at $1 billion - and getting voicemail. Back in May, Programmatic Insider asked the question, “Why Is
Burda is an exciting, global business and we are happy to become part of their network of entrepreneurs.Of all the bizarre mysteries haunting the Internet world, one of the most interesting is the saga of Mode Media, a kind of women-oriented fashion and beauty ad network that was once “The business is primed for further growth, and I am happy that we have found a partner that shares our vision for growth and innovation.
We have grown revenues and profitability substantially, and have invested in people, technology and business models. Immediate chief executive Tom Bureau said: “Since we formed Immediate with Exponent in 2011, we have created a dynamic, thriving business. We believe Burda and Immediate Media match perfectly – with regards to the business segments as well as to the entrepreneurial mindset of both companies.” “The successful management team brings strength and depth across publishing, technology and e-commerce and has built a growing, profitable company with a large and loyal customer base. Hubert Burda chief executive Paul-Bernhard Kallen said: “Immediate Media is a great platform for print as well as digital consumer businesses in the UK. Hubert Burda Media and Exponent have declined to disclose financial details of the transaction. Immediate claims that Radio Times, which has a weekly circulation of 668,000 copies, is the most profitable magazine in the UK. In 2014 Immediate paid £24m for Future Plc’s sport and magazine titles, including Cycling Plus, Simply Knitting and Mollie Makes. It was combined with Magicalia and Origin publishing. Immediate Media was formed in 2011 after the BBC sold its magazines division to Exponent Private Equity. Immediate’s most recent annual profit figure is £40m (ebitda). It previously published real-life titles Love It! and Full House! in the UK but sold them in 2012. It currently publishes a handful of specialist titles in the UK including Wedding Flowers and Your Home. Munich-based Hubert Murda Media has 10,000 employees and is active around the world. Other Immediate Media titles include: Olive, BBC Top Gear, BBC Good Food, BBC Focus and a variety of magazines for pre-schoolers tied into the CBeebies TV channel. The UK group comprises around 70 magazine titles, has 1,350 staff and claims to sell 76m magazines a year and attract 35m monthly users online. German magazine giant Hubert Burda Media has made a major move into the UK buying Radio Times publisher Immediate Media.
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