Wednesday, November 25, 2009

BBC Worldwide to float?

This morning's FT leads with the story that BBC Worldwide is looking at the possibility of floating on the stock market in response to pressure from the government and commercial rivals to dilute its media market power.

According to the paper

Two people close to the early-stage discussions told the Financial Times that Goldman Sachs and Credit Suisse were part of the advisory process. The banks declined to comment. Two other people close to the BBC confirmed that any flotation was unlikely before the end of 2010 at the earliest.

Its value is placed at around £2b and as the report adds

Worldwide, which operates 23 television channels in more than 100 countries and sells BBC branded magazines, Lonely Planet travel guides, merchandise and programme formats, had revenues of £1bn in 2008-09 and an operating profit of £112m before exceptional costs.

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