BBC selling magazinesAugust 16, 2011 - 16:09 AMT PanARMENIAN.Net - The commercial arm of British public broadcaster BBC is to sell a string of magazines including the Radio Times to a private equity group as part of its strategy to focus on video and digital services. According to Reuters, the BBC announced the deal with Exponent Private Equity, along with other licensing agreements and other disposals, for a total sum 121 million pounds ($198 million) and said the majority of the proceeds would go back to the corporation. The BBC, funded by a fee paid by all households with a television, is under pressure to cut costs as part of the government's bid to slash spending. Exponent's current portfolio also includes a theater group, a handbag supplier and the Trainline website. The first issue of the Radio Times was produced in 1923. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |