BBC flogs Broadcast div
Print storySells off union problem
Posted in Financial News, 27th June 2005 15:08 GMT
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The BBC has flogged off its broadcast services division to a bunch of Aussies for £166m.
BBC Broadcast provides transmission, playout and promotional services for the Beeb. It has been sold to Creative Broadcast Services which is owned by Macquarie Capital Alliance Group and Macquarie Bank.
The sell-off has been a long time coming, as staff sought guarantees on job security and pensions.
A spokesman for Bectu said: "Staff aren't happy, most want to stay within the BBC, but they are happy with the guarantees on jobs and pensions which we've received."
The new owners have promised not to make any compulsory redundancies for a year and to guarantee final pension payments. Contracted revenue with the BBC is expected to total at least £500m by 2015. The company expects continued increases in the number of TV stations, and therefore potential customers, to drive demand, as will the increased regulatory demands for broadcasters to include subtitles or sign language.
More details on Macquarie's website here.®
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