Category: Βι¶ΉΤΌΕΔ
Date: 13.04.2005
Printable version
The sale process enters the next phase of rigorous evaluation
The Βι¶ΉΤΌΕΔ has launched today the next stage of the sale process for
its commercial subsidiary Βι¶ΉΤΌΕΔ Broadcast Ltd. ("Βι¶ΉΤΌΕΔ Broadcast").
The sale is subject to the final approval of the Βι¶ΉΤΌΕΔ Governors and
Executive Board and the Secretary of State for Culture, Media and Sport.
The sale has attracted widespread interest from both financial and
industry buyers.
Eighteen organisations of both kinds are being taken through to the
next round, all of whom have demonstrated strong desire and credibility
as potential buyers of Βι¶ΉΤΌΕΔ Broadcast.
The list of financial bidders includes: Advent International, Apax
Partners Worldwide LLP, Bank of Scotland Corporate, Barclays Private
Equity, Bridgepoint, Exponent Private Equity, HgCapital, Kleinwort Capital
Limited, Montagu Private Equity, Palamon Capital Partners LP, The Carlyle
Group.
There are also a number of organisations on the list of bidders in
industries related to Βι¶ΉΤΌΕΔ Broadcast, amongst whom are: Ascent Media
Group and Thomson/Technicolor.
Peter Phillips, Director, Business Development, who is leading the
sale for the Βι¶ΉΤΌΕΔ, commented: "We were really impressed with both the
number and quality of companies expressing a serious interest in buying
Βι¶ΉΤΌΕΔ Broadcast.
"We will shortly be beginning a rigorous evaluation of the
eighteen bidders, including assessing their effectiveness as long term
business partners of the Βι¶ΉΤΌΕΔ and their cultural fit, to produce a shortlist
towards the end of May."
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 review 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 opportunities for growth
which are not available whilst it is owned by the Βι¶ΉΤΌΕΔ, but with the
stability of an on-going contract in place with the Βι¶ΉΤΌΕΔ.
It is expected that the sale of Βι¶ΉΤΌΕΔ Broadcast and its management and
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 Unions throughout the sale
process.
Notes to Editors
At this stage some bidders wish to remain anonymous and we honour that
decision.
About Βι¶ΉΤΌΕΔ Broadcast Limited
Specialists in the delivery and promotion of digital media, Βι¶ΉΤΌΕΔ Broadcast
offers the complete range of services required to promote, playout and
provide access to broadcast content across all media, from television
to mobile phones.
Key services include: promotions, design & branded content, navigation
services (electronic programme guides), access services (subtitling,
signing and audio description), content playout ('video-on-demand' -
video via broadband and mobile phones) and interactivity.
Βι¶ΉΤΌΕΔ Broadcast is the largest playout and channel management business
in the UK and broadcasts 61 streams including public service and commercial
channels and interactive streams from the Broadcast Centre in West London.
It is also growing its business overseas and is already providing creative
services to clients in Europe, the USA and Asia.
Βι¶ΉΤΌΕΔ Broadcast's fusion of creative origination and technical innovation
and its unique abilities in managing digital assets mean it is best
placed to capitalise on the growing need for digital media distribution
and promotion.
For more information access www.bbcbroadcast.com
