BBC Worldwide that Channel 4 merge with either the commercial network Five or BBC Worldwide. Channel 4's preferred option of a partnership with the latter was confirmed by chief executive Andy Duncan, who added: "We're in discussions with BBC Worldwide at the moment and they're really very exciting." In the same year, the company was awarded the Queen's Award for Enterprise in recognition of the companies growth and success. In 2012, the company began to reorganise their divisions from a product based system to a location-based system, resulting in Jana Bennett leaving the company. BBC Worldwide sold Lonely Planet in 2013 to
BBC Worldwide was the listings magazine "Radio Times", but the net revenue gained from this in 1928 (£93,686, 10s, 1d) only equated to 10% of total BBC income. Prior to 1979, several BBC departments dealt with the exploitation and sale of BBC brands and programmes. BBC Publications, which produced magazines, books and other supplementary materials, had expanded rapidly in the late 1960s but still had difficulties with finances: in 1974 the division made a loss of £14,000. This was rectified however as the economic situation eased and by 1982 BBC Publications had a trading profit of £4.7 million. BBC Transcription Services licensed