Stephen Alexander, the former chairman of EMI and Odeon cinemas, has been appointed as chairman of a new company that will be home to BBC Magazines’ 33 titles including Top Gear and Radio Times.

Exponent, the private equity company that acquired BBC Worldwide’s magazines for £121 million in August, has created Immediate Media Co to house the combined publishing and media assets under its control.

Under the new management structure Peter Phippen, the long-serving managing director of BBC Magazines, will move to a non-executive role as deputy chairman.

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