UK Government approves BBC Broadcast sale

Maquarie now owns BBC Broadcast
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Another department of the BBC has been sold.

The UK Secretary of State for Culture, Media and Sport has approved the sale of BBC Broadcast to Creative Broadcast Services, owned by the Macquarie Capital Alliance Group and Macquarie Bank. The deal was completed July 31.

Other broadcasters are expected to follow with interest the progress of Siemens Business Services (new owner of the former BBC Technology) and Creative Broadcast Services to see if the outsourcing model is beneficial, and allows the broadcaster to focus on programming.

The sale follows the corporation's internal review of its commercial businesses. The review team concluded that, while the services provided by BBC Broadcast were vital to the BBC, they did not necessarily need to be owned by the BBC.

The review said new ownership and its commitment to a long-term partnership would allow the BBC to continue its strong relationship with BBC Broadcast.

BBC Broadcast offers a comprehensive range of services to playout, publish, and promote content from television to mobile phones. Creative Broadcast Services will provide the business with opportunities for growth that were not available while it was owned by the BBC.

For more information, visit www.bbcbroadcast.com and www.macquarie.com.au.

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