After weighing interest from a wide range of private equity and trade buyers, the BBC announced that four bidders have been selected to enter the next phase of detailed negotiations involving the purchase of BBC Broadcast.
Apax Partners, Exponent Private Equity, Macquarie Group and Thomson/Technicolor have been chosen as bidders for the company.
The sale, which is subject to final approval by the BBC Governors and Executive Board, and the Secretary of State for Culture, Media and Sport, will be finalized by the end of the summer.
The BBC said it would now enter into detailed negotiations with the four companies to determine the right partner capable of delivering future services, while also offering the best possible opportunities for the BBC Broadcast staff.
John Smith, BBC COO and Executive Board project sponsor, said the companies selected were chosen based on their future growth plans and how they would work in partnership with the BBC in the coming years.
BBC Broadcast’s channel management business broadcasts 61 streams, including public service and commercial channels and interactive streams, from its Broadcast Centre in West London. It is provides a variety of services to clients in Europe, Asia and the U.S.