Category: Βι¶ΉΤΌΕΔ
Date: 04.03.2005
Printable version
The Βι¶ΉΤΌΕΔ has announced that the process for the sale of its commercial
subsidiary Βι¶ΉΤΌΕΔ Broadcast Limited has begun and an advertisement has
been placed in the global Financial Times and UK trade magazine Broadcast,
today.
The sale is subject to the necessary approvals by the Βι¶ΉΤΌΕΔ Board of
Governors and the Secretary of State for Culture, Media & Sport.
Βι¶ΉΤΌΕΔ Broadcast is Europe's leading expert in the distribution and promotion
of multimedia content and it offers a comprehensive range of services
to play-out, publish, promote and provide media access for content across
all media, from television to mobile phones.
The sale follows on from the Corporation's internal review of its commercial
businesses.
The team concluded that, whilst the services provided by Βι¶ΉΤΌΕΔ Broadcast
are vital to the Βι¶ΉΤΌΕΔ, they did not necessarily need to remain owned
by the Βι¶ΉΤΌΕΔ.
The Βι¶ΉΤΌΕΔ believes that the combination of a new commercial owner, and
a partnership approach with the successful bidder, will mean that the
Βι¶ΉΤΌΕΔ can continue the strong relationship it has built up with Βι¶ΉΤΌΕΔ Broadcast.
A new owner will provide the business with new opportunities for growth
which are not available whilst it is owned by the Βι¶ΉΤΌΕΔ, but with the
stability of a seven-year contract in place with the Βι¶ΉΤΌΕΔ.
Peter Phillips, Director, Business Development, who is leading the
sale for the Βι¶ΉΤΌΕΔ commented: "The Βι¶ΉΤΌΕΔ has a great relationship with Βι¶ΉΤΌΕΔ
Broadcast and we are committed to finding a long-term partner that can
not only continue to deliver the outstanding quality of services back
to the Βι¶ΉΤΌΕΔ, but also help Βι¶ΉΤΌΕΔ Broadcast continue to develop in new markets.
"Staff issues and the right cultural fit will also be an important
part of this deal."
Pam Masters, Managing Director, Βι¶ΉΤΌΕΔ Broadcast, said: "Since incorporation,
Βι¶ΉΤΌΕΔ Broadcast has established itself as specialists in the delivery
and promotion of digital media.
"Merging our Βι¶ΉΤΌΕΔ heritage with technical innovation, we bring
together unique creative, operational and technical skills and an understanding
of the business models of content owners, and the way people actually
consume content.
"The sale of Βι¶ΉΤΌΕΔ Broadcast is a great opportunity for the business
to grow outside the constraints of being owned by a public service broadcaster,
giving access to capital to enable the business to grow."
It is expected that the sale of Βι¶ΉΤΌΕΔ Broadcast and its staff to the
successful bidder will take place by the end of the summer, subject
to contract negotiations and regulatory approvals.
The Βι¶ΉΤΌΕΔ will be in full consultation with the Unions throughout the
sale process.
Notes to Editors
Βι¶ΉΤΌΕΔ Broadcast
Βι¶ΉΤΌΕΔ Broadcast offers a comprehensive range of services to play-out,
publish, promote and provide media access for content across all media,
from television to mobile phones.
Key services include: new channel launches, play-out and channel management;
channel branding & promotion; and subtitling & other media access services.
Βι¶ΉΤΌΕΔ Broadcast currently provides services for 51 public service and
commercial television channels, five national radio networks, 39 local
radio stations, as well as the most visited website in Europe, bbc.co.uk.
For more information visit www.bbcbroadcast.com.
