The BBC has indicated that it would rather pursue partnerships or joint ventures for its commercial arm Worldwide rather than sell it or see it floated on the stock market, as previous reports have suggested.
Speaking at a Royal Television Society dinner yesterday, the BBC’s director-general, Mark Thompson, confirmed the publicly-funded broadcaster was reconsidering ownership of its publishing, distribution and channel arms but has not ruled out the possibility of a sale to trade buyers or private equity groups, said today’s
Financial Times.
He said: “What works very well internationally for the BBC in recent years is a strategy of very large-scale partnerships and joint ventures such as the Discovery joint venture. We are much more likely to see a solution built around partnerships.”
Reports earlier this week suggested that the committee reviewing the future of Worldwide, which includes overseas channels, magazine publishing and merchandising, was considering floating a stake on the stock market (see BBC Considering Flotation Of Worldwide Arm).
However, Worldwide’s future is not expected to be decided until the first two weeks of October when the committee will meet with Thompson to discuss provisional recommendations, he is then expected to take the final recommendation to the Government by the end of the year.
The much anticipated outcome has already attracted attention from numerous broadcasters, venture capital groups and investment banks, with chief executive of the division, Rupert Gavin, confirming he has been contacted about possible bids. It is widely believed that any sale would carry a £1 billion price tag.
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