BBC Denies Plans For Worldwide Sell Off

The BBC has this morning denied reports that it is hatching plans to sell off its commercial arm, BBC Worldwide. Rupert Gavin, chairman of Worldwide, is quoted on the BBC’s own news website as saying that “there is no question of selling off any of BBC Worldwide.”

The statement follows an article in yesterday’s edition of the Sunday Times which claimed that the Corporation is currently consulting a merchant bank about the possibilities of privatising the whole operation. There have also been suggestions that BBC Worldwide’s commercial internet service, beeb.com, may be floated to take advantage of the current stock market enthusiasm for dotcom companies. The division is likely to have become even more valuable recently, following a shift of emphasis to ecommerce services.

The speculation comes days after culture secretary Chris Smith announced that proposals to impose a digital television licence levy have been rejected in favour of a £3 increase in the current licence fee to £104 (see BBC Digital Licence Fee Plans Rejected). This leaves the BBC and its new director general, Greg Dyke, with the task of finding alternative funding mechanisms for its push into the digital age.

Dyke has dismissed the reports of BBC Worldwide privatisation as ‘complete rubbish’, according to BBC News online, adding: “We have argued strongly against it and were pleased that the Government’s consultants, PKF, agreed with us.” The BBC says instead that it plans to raise funds via joint ventures and partnerships through Worldwide’s subsidiary divisions.

BBC Worldwide: 020 7576 2000