BBC Broadcast Ltd bidders revealed as sale process reaches next stage

The BBC has launched today the next stage of the sale process for its commercial subsidiary, BBC Broadcast Ltd.
The sale, which is subject to the final approval of the BBC Governors and Executive Board and the Secretary of State for Culture, Media and Sport, has attracted widespread interest from both financial and industry buyers.
Eighteen organisations of both kinds are being taken through to the next round, all of whom have demonstrated strong desire and credibility as potential buyers of BBC Broadcast.
The list of financial bidders includes: Advent International, Apax Partners Worldwide LLP, Bank of Scotland Corporate, Barclays Private Equity, Bridgepoint, Exponent Private Equity, HgCapital, Kleinwort Capital Limited, Montagu Private Equity, Palamon Capital Partners LP and The Carlyle Group.
There are also a number of organisations on the list of bidders in industries related to BBC Broadcast, including the Ascent Media Group and Thomson/Technicolor.
Peter Phillips, Director, Business Development, who is leading the sale for the BBC, commented: "We were really impressed with both the number and quality of companies expressing a serious interest in buying BBC Broadcast.
"We will shortly be beginning a rigorous evaluation of the eighteen bidders, including assessing their effectiveness as long term business partners of the BBC and their cultural fit, to produce a shortlist towards the end of May."
BBC Broadcast is Europe's leading expert in the distribution and promotion of multimedia content and it offers a comprehensive range of services to play-out, 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, while 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 that the combination of a new commercial owner and a partnership approach with the successful bidder will mean that the BBC can continue the strong relationship it has built up with BBC Broadcast.
A new owner 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 on-going contract in place with the BBC.
It is expected that the sale of BBC Broadcast and its management and staff to the successful bidder will take place by the end of the summer, subject to contract negotiations and regulatory approvals.
The BBC will be in full consultation with unions throughout the sale process.
(GB)