GS
Gavin Scott
Founding member
Could you publish the text in full Dan? I've registered twice now but I'll be dashed if I can remember my password.
Ta muchly.
Ta muchly.
MA
Sorrell in frame for BBC Broadcast
Dominic Timms
Tuesday February 22, 2005
Martin Sorrell's WPP group is expected to be among a handful of companies expressing interest in BBC Broadcast, the corporation's transmission and branding business put up for sale in December.
WPP, which owns Lambie Nairn, the design company responsible for BBC1's current "movement" idents, is likely to find itself up against Thomson, the French electronics group, and US media services group Ascent.
A number of financial groups including 3i and Australian investment outfit Macquarie are also understood to be interested in the business, which transmits all the BBC's TV channels and could fetch up to £150m.
Pam Masters, the BBC Broadcast chief executive, may also decide to weigh in with a management buyout of the business, which made a an operating profit of around £7m last year.
The BBC is to kick off the sale of BBC Technology within the next 10 days in a bid to offload the business by as early as July.
A BBC spokeswoman said the corporation hads already received expressions of interests from a number of parties ahead of the start of the official bidding process.
It wants to clear the sale of BBC Broadcast ahead of the disposal of BBC Resources, which is also on the block after an internal review found it "not essential" for either to remain under BBC ownership.
After registering expressions of interest, the BBC sell-off team, led by news chief operating officer Peter Phillips, will vet potential bids before drawing up a long list that will then be given access to detailed financial information.
The BBC spokeswoman said the corporation was confident of a sale "before the end of July", although any eventual change of ownership will have to be approved by the culture secretary, Tessa Jowell.
Spun off as a separate business in 2002, BBC Broadcast was set up to provide state-of-the-art transmission, branding and promotional services to both the BBC and external clients.
While the business is profitable servicing in-house requirements, it has struggled to bring in external clients.
Last November BBC Broadcast extended a deal with Five to provide emergency transmission services in the event of a terrorist attack and has worked on TV infomercials for McDonald's and Renault among others, but has yet to land any sizeable independent transmission contracts.
The BBC believes that changing the ownership structure will enable the business to bring in more work from rival broadcasters.
However, unions said they would fight the sale of BBC Broadcast, which employs 1,084 staff and turned over £109m last year.
***correction to paragraph 4, BBC Technology has been sold and is now owned by Siemens. They mean BBC Broadcast.
Dominic Timms
Tuesday February 22, 2005
Martin Sorrell's WPP group is expected to be among a handful of companies expressing interest in BBC Broadcast, the corporation's transmission and branding business put up for sale in December.
WPP, which owns Lambie Nairn, the design company responsible for BBC1's current "movement" idents, is likely to find itself up against Thomson, the French electronics group, and US media services group Ascent.
A number of financial groups including 3i and Australian investment outfit Macquarie are also understood to be interested in the business, which transmits all the BBC's TV channels and could fetch up to £150m.
Pam Masters, the BBC Broadcast chief executive, may also decide to weigh in with a management buyout of the business, which made a an operating profit of around £7m last year.
The BBC is to kick off the sale of BBC Technology within the next 10 days in a bid to offload the business by as early as July.
A BBC spokeswoman said the corporation hads already received expressions of interests from a number of parties ahead of the start of the official bidding process.
It wants to clear the sale of BBC Broadcast ahead of the disposal of BBC Resources, which is also on the block after an internal review found it "not essential" for either to remain under BBC ownership.
After registering expressions of interest, the BBC sell-off team, led by news chief operating officer Peter Phillips, will vet potential bids before drawing up a long list that will then be given access to detailed financial information.
The BBC spokeswoman said the corporation was confident of a sale "before the end of July", although any eventual change of ownership will have to be approved by the culture secretary, Tessa Jowell.
Spun off as a separate business in 2002, BBC Broadcast was set up to provide state-of-the-art transmission, branding and promotional services to both the BBC and external clients.
While the business is profitable servicing in-house requirements, it has struggled to bring in external clients.
Last November BBC Broadcast extended a deal with Five to provide emergency transmission services in the event of a terrorist attack and has worked on TV infomercials for McDonald's and Renault among others, but has yet to land any sizeable independent transmission contracts.
The BBC believes that changing the ownership structure will enable the business to bring in more work from rival broadcasters.
However, unions said they would fight the sale of BBC Broadcast, which employs 1,084 staff and turned over £109m last year.
***correction to paragraph 4, BBC Technology has been sold and is now owned by Siemens. They mean BBC Broadcast.