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MUMBAI: The BBC has announced the shortlist of bidders for the
sale of BBC Broadcast. The sale is subject to the final approval
of the BBC Governors and Executive Board and the Secretary of State
for Culture, Media and Sport.
The four companies that have been selected to enter the final stage
are Apax Partners, Exponent Private Equity, Macquarie Group and
Thomson/Technicolor. The decision was reached after an extensive
evaluation of bids from both financial and industry buyers was undertaken.
BBC Broadcast is involved in among other things designing the look,
feel of channels.
The BBC will now enter into detailed negotiations with the four
companies to determine the right partner for the BBC in delivering
future services, whilst also offering the best possible opportunities
for BBC Broadcast staff. BBC COO and executive board project sponsor
John Smith said, "These shortlisted companies have not only
demonstrated an appreciation of the value of BBC Broadcast, but
also impressed us with their future growth plans and how they will
work in partnership with the BBC in the coming years."
BBC director business development Peter Phillips who is leading
the sale said, "We have had serious interest from a wide range
of private equity and trade buyers. The high standard of world-class
creative, operational and technical services offered by BBC Broadcast,
coupled with a talented management team, makes this a very attractive
acquisition. We have continued support and commitment from BBC Broadcast's
board and are on track to complete the sale by the end of the summer,
subject to approvals.
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