Category: BBC
Date: 22.07.2005
Printable version
The BBC announced today that the Secretary of State
for Culture, Media and Sport has approved the sale of BBC Broadcast
Limited ("BBC Broadcast"), and this clears the way to completing the
sale of the company to Creative Broadcast Services Limited ("Creative
Broadcast Services"), owned by the Macquarie Capital Alliance Group
and Macquarie Bank Limited.
The deal is now unconditional and is expected to complete
on 31 July.
The BBC announced on 27 June that Creative Broadcast
Services had been selected as the new owner, following an extensive
and rigorous evaluation of final bids from financial and industry buyers,
subject to the required approval from the Secretary of State.
BBC Broadcast is Europe's leading expert in the distribution
and promotion of multimedia content and it offers a comprehensive range
of services to playout, 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 BBC Broadcast are vital to the BBC,
they did not necessarily need to remain owned by the BBC.
The BBC believes the new ownership and its commitment
to a long-term partnership will mean that the BBC can continue the strong
relationship it has built up with BBC Broadcast.
Creative Broadcast Services will provide the business
with opportunities for growth which are not available whilst it is owned
by the BBC, but with the stability of an ongoing contract in place with
the BBC.
About BBC Broadcast Limited
Specialists in the delivery and promotion of digital
media, BBC 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 and 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.
BBC Broadcast's channel management business 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.
BBC Broadcast's fusion of creative origination and
technical innovation and its unique abilities in managing digital assets
mean it is ideally placed to capitalise on the growing need for digital
media distribution and promotion.
BBC Broadcast recently acquired BDS (Broadcasting Data
Services) from BBC Worldwide, to deliver broadcast listings and data
to print media customers such as Radio Times - as well as screen-based
customers including NTL, Telewest and HomeChoice in the UK on behalf
of broadcasters including the BBC, ITV, Five, and UKTV.
BBC Broadcast's recognised union is BECTU and BDS's
recognised union is NUJ.
For more information access bbcbroadcast.com
About Creative Broadcast Services Limited
Creative Broadcast Services Limited is owned by Macquarie
Capital Alliance Group and Macquarie Bank Limited, two members of the
Macquarie Bank Group.
Macquarie Capital Alliance Group (MCAG) is a listed
investment fund, which was established in April 2005 to raise A$1 billion
(c. £420m) to co-invest alongside the Macquarie Bank Group and its clients
globally.
MCAG has a broad investment mandate, with the ability
to invest in any industry sector other than property.
MCAG is managed by a member of the Macquarie Bank Group.
MCAG's portfolio of investments currently include a 95% interest in
aged care service provider, Retirement Care Australia, and a 36% shareholding
in a leading European directories business, YBR Group.
For more information access macquarie.com.au/mcag
Macquarie Bank Limited is a diversified international
provider of specialist financial and investment banking services, and
has a market capitalisation of more than A$14 billion (£6 billion).
Macquarie Bank Group members manage approximately A$89
billion (£36.4 billion) of assets throughout the world, invested in
a variety of sectors.
Macquarie Bank has 6,500 employees, is present in every
major financial centre around the world, and derives more than 30 per
cent of its income from activities outside Australia.
Macquarie's European base is London where it has over
340 people, with additional offices in Dublin, Frankfurt, Geneva, Munich,
Milan, Paris and Vienna.
For more information access macquarie.com.au
