However, following the retirement of the Radio Enterprises general manager in 1969, the two departments were merged to form the BBC Enterprises department. Radio programmes were only exploited on the same level with the creation of the Radio Enterprises department in 1965. In its first year, the department saw the sale of 550 programmes overseas with a turnover of £234,000, with a further 1,200 programmes sold the following year. This gradually expanded until the establishment of the Television Promotions (later renamed Television Enterprises) department in 1960 under a general manager. The selling of television programmes was at first handled in 1958 with the establishment of a business manager post. BBC Transcription Services licensed BBC Radio material to overseas broadcasters. This was rectified however as the economic situation eased and by 1982, BBC Publications had a trading profit of £4.7 million. In 1974, the division made a loss of £14,000. BBC Publications, which produced magazines, books and other supplementary materials, had expanded rapidly in the late 1960s but still had difficulties with finances. Prior to 1979, several BBC departments dealt with the exploitation and sale of BBC brands and programmes. The highest profile of these early products was the listings magazine Radio Times, but the net revenue gained from this in 1928 (£93,686, 10 s, 1 d) only equated to 10% of total BBC income. In addition to broadcasting, the BBC has for much of its life also produced additional materials for sale, the profits of which would be returned to the corporation to aid in the financing of these services. 2 BBC Worldwide profit and sales 1995–2012.
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