BBC to Sell Some Part of It's 1£1bn Worldwide Arm BBC Worldwide
From the recent developments in the multi-national corporate field it looks like the era of selling and acquisitions has begun. Now it is media giant BBC that is planning to sell 'some part' of it's commercial arm, BBC world wide.
Broadcasting major BBC is considering putting on the block some part of its commercial arm, BBC Worldwide, in a move following a review of its operations, says a media report.
In an interview to the Guardian, BBC's director general, Mark Thompson said the executives were considering the "part- privatisation" of BBC Worldwide.
The options under consideration for divestment include a stock market listing of BBC Worldwide business, which had annual revenues of about one billion pounds last year.
"One of the things we should look at over this period is whether 100 per cent ownership of Worldwide is essential going forward," Thompson said.
According to the publication, BBC would keep control of the commercial arm, which publishes magazines and licences merchandise from popular programmes such as Top Gear.
BBC bosses are reviewing whether they need to keep 100% ownership is necessary to move forward.
If the BBC decides to go ahead with a part-privatisation, investors could buy shares while the corporation would keep control of the commercial arm, which also publishes magazines and licenses merchandise from popular programmes such as Top Gear. It would be the first significant privatisation for years and comes amid pressure on the BBC from both sides of parliament to share the benefits of its guaranteed licence fee.
So far I could not find anything from the horse's mouth though.