BBC 'wants control of UKTV'

Corporation's commercial arm is mulling a £500 million for the broadcaster
Author:
Publish date:
UKTV

The BBC is reportedly considering a bid of £500 million to take overall control of UKTV.

Currently the broadcaster is a joint venture between the BBC and Scripps Networks Interactive.

According to the Daily Telegraph, BBC Worldwide is "in talks with advisers about borrowing hundreds of millions of pounds from private investors".

It;s thought the BBC has decided to explore the deal as its JV with Scripps is subject to the $14.6 billion takeover of the US company by Discovery. It would activate a change of control clause which would enable the BBC to buy off Discovery when the Scripps deal concludes in the New Year.

The Telegraph says Tim Davie, the chief executive of BBC Worldwide, has held discussions over borrowing the necessary funds via a private bond issue.

The deal could raise concerns from commercial broadcasters such as ITV and Sky.

Related