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BBC Worldwide, the main commercial arm of the BBC, have announced that they have finalised a deal with US company Knowledge Chase.
The multi-million pound deal sees the sale of BBC Worldwide’s BBC for Business unit, whose current turnover is around £2 million, into a partnership structure with Knowledge Chase.
Under the partnership structure, Knowledge Chase becomes the majority shareholder with BBC Worldwide retaining a minority stake in the business.
The deal will enable BBC for Business to achieve growth in global sales, in new and existing technologies, and in product targeted at the highly lucrative business training market, by using BBC branded material adapted from BBC programming as well as the BBC for Business brand.
Mark Johnstone, BBC Worldwide’s Director of Genre Development, said: “We are very excited about this deal. Knowledge Chase have an ambitious business plan for investment in the BBC for Business brand, which will establish them as a major force in the global business-training market. We see this as an area of significant potential growth which will bring a multi-million pound return back to the BBC.”
The business has a 10-year licence for the products and the brand. BBC Worldwide will earn a multi-million pound figure on the transaction, and royalties based on the ongoing percentage of sales.
BBC for Business are currently one of the UK’s leading providers of video and CD-Rom-based training material with an established reputation for choice and quality.
The products will be digitised and made available in the latest formats including DVD, broadband and the internet.
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