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Sale of BBC Broadcast to Creative Broadcast Ltd Approved

Posted on: Monday, 25 July 2005, 06:00 CDT

Text of press release from BBC on 22 July

The BBC announced today that the Secretary of State for Culture, Media and Sport has approved the sale of BBC Broadcast Limited and this clears the way to completing the sale of the company to Creative Broadcast Services Limited, owned by the Macquarie Capital Alliance Group and Macquarie Bank Limited.

The deal is now unconditional and is expected to complete on 31 July.

The BBC announced on 27 June that Creative Broadcast Services had been selected as the new owner, following an extensive and rigorous evaluation of final bids from financial and industry buyers, subject to the required approval from the Secretary of State.

BBC Broadcast is Europe's leading expert in the distribution and promotion of multimedia content and it offers a comprehensive range of services to playout, publish, promote and provide media access for content across all media, from television to mobile phones.

The sale follows on from the Corporation's internal review of its commercial businesses. The review team concluded that, whilst the services provided by BBC Broadcast are vital to the BBC, they did not necessarily need to remain owned by the BBC.

The BBC believes the new ownership and its commitment to a long- term partnership will mean that the BBC can continue the strong relationship it has built up with BBC Broadcast.

Creative Broadcast Services will provide the business with opportunities for growth which are not available whilst it is owned by the BBC, but with the stability of an ongoing contract in place with the BBC.

About BBC Broadcast Limited

Specialists in the delivery and promotion of digital media, BBC Broadcast offers the complete range of services required to promote, playout and provide access to broadcast content across all media, from television to mobile phones.

Key services include: promotions, design and branded content, navigation services (electronic programme guides), access services (subtitling, signing and audio description), content playout (video- on-demand - video via broadband and mobile phones) and interactivity.

BBC Broadcast's channel management business broadcasts 61 streams, including public service and commercial channels and interactive streams from the Broadcast Centre in west London.

It is also growing its business overseas and is already providing creative services to clients in Europe, the USA and Asia.

BBC Broadcast's fusion of creative origination and technical innovation and its unique abilities in managing digital assets mean it is ideally placed to capitalize on the growing need for digital media distribution and promotion.

BBC Broadcast recently acquired BDS (Broadcasting Data Services) from BBC Worldwide, to deliver broadcast listings and data to print media customers such as Radio Times - as well as screen-based customers including NTL, Telewest and HomeChoice in the UK on behalf of broadcasters including the BBC, ITV, Five and UKTV.

BBC Broadcast's recognized union is BECTU and BDS's recognized union is NUJ.

For more information access bbcbroadcast.com

About Creative Broadcast Services Limited

Creative Broadcast Services Limited is owned by Macquarie Capital Alliance Group and Macquarie Bank Limited, two members of the Macquarie Bank Group.

Macquarie Capital Alliance Group (MCAG) is a listed investment fund, which was established in April 2005 to raise 1bn Australian dollars (around 420m pounds) to co-invest alongside the Macquarie Bank Group and its clients globally.

MCAG has a broad investment mandate, with the ability to invest in any industry sector other than property.

MCAG is managed by a member of the Macquarie Bank Group. MCAG's portfolio of investments currently include a 95 per cent interest in aged care service provider, Retirement Care Australia and a 36 per cent shareholding in a leading European directories business, YBR Group.

For more information access macquarie.com.au/mcag

Macquarie Bank Limited is a diversified international provider of specialist financial and investment banking services and has a market capitalization of more than 14bn Australian dollars (6bn pounds).

Macquarie Bank Group members manage approximately 89bn Australian dollars (36.4bn pounds) of assets throughout the world, invested in a variety of sectors.

Macquarie Bank has 6,500 employees, is present in every major financial centre around the world and derives more than 30 per cent of its income from activities outside Australia.

Macquarie's European base is London where it has over 340 people, with additional offices in Dublin, Frankfurt, Geneva, Munich, Milan, Paris and Vienna.

For more information access macquarie.com.au

Source: BBC Monitoring Media

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