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BBC Worldwide could be privatised ahead of charter renewal BBC Worldwide could be privatised ahead of charter renewal
(about 2 hours later)
The government is considering privatisation or part-privatisation of the BBC’s commercial arm BBC Worldwide, as part of its wide-ranging review of the corporation’s activities ahead of charter renewal. The government is considering privatisation or part-privatisation of the BBC’s commercial arm BBC Worldwide, according to a wide-ranging review of the corporation’s activities, as part of charter renewal.
The green paper, published on Thursday, says reasons for considering a sell off include concerns that Worldwide could encourage the BBC to make decisions based on the desire to sell programmes in international markets, as well as its impact on other producers trying to sell shows from the UK overseas.The green paper, published on Thursday, says reasons for considering a sell off include concerns that Worldwide could encourage the BBC to make decisions based on the desire to sell programmes in international markets, as well as its impact on other producers trying to sell shows from the UK overseas.
It also highlighted concerns that its growth is hampered by its inability to take on more debt because of the borrowing limits placed on public bodies.It also highlighted concerns that its growth is hampered by its inability to take on more debt because of the borrowing limits placed on public bodies.
Worldwide helps fund the BBC by selling shows such as Top Gear and Doctor Who outside the UK. It returned £226.5m to the corporation in 2014/15 as a result of profits on revenues of almost £1bn. Earlier this month Worldwide chief executive Tim Davie said the division hoped to return £1bn to the BBC over the next five years to help offset the cost of funding the licence fee for the over-75s which the BBC will have to take on over the next five years.Worldwide helps fund the BBC by selling shows such as Top Gear and Doctor Who outside the UK. It returned £226.5m to the corporation in 2014/15 as a result of profits on revenues of almost £1bn. Earlier this month Worldwide chief executive Tim Davie said the division hoped to return £1bn to the BBC over the next five years to help offset the cost of funding the licence fee for the over-75s which the BBC will have to take on over the next five years.
As well as listing possible reasons for a sale, the report also highlights Worldwide’s role in helping independent producers access international markets for their shows and helping to fund the BBC.As well as listing possible reasons for a sale, the report also highlights Worldwide’s role in helping independent producers access international markets for their shows and helping to fund the BBC.
“Charter review will consider the full range of options for reforming the BBC’s commercial operations, including full or part privatisation of Worldwide,” says the green paper.“Charter review will consider the full range of options for reforming the BBC’s commercial operations, including full or part privatisation of Worldwide,” says the green paper.
In 2009 Worldwide was put on a list of assets the government was considering putting up for sale. However, the last government handed it a reprieve the following year.In 2009 Worldwide was put on a list of assets the government was considering putting up for sale. However, the last government handed it a reprieve the following year.
In announcing the BBC annual report on Tuesday, director general Tony Hall said: “To fund great programmes in an era of global competition for talent and ideas, we must work even harder at the partnership between the licence fee and our commercial arm, BBC Worldwide. 71% of the funding of BBC One’s Life Story was commercial funding. The licence fee paid for less than half the budget of some of our biggest dramas last year.”