BBC aims to buy out UKTV
December 11, 2007
BBC Worldwide, the commercial arm of the BBC, is reportedly trying to buy cable group Virgin Media’s share of UKTV, the TV channel business that the two organisations jointly own.
Virgin Media’s investment in the 50/50 joint venture is valued on the company’s books at £370 million, (E536m) including a £150 million loan.
The joint venture includes eight UKTV-branded channels and the recent re-brand 'Dave'. UKTV stations take advertising and charge a subscription fee. BBC Worldwide is hoping to extend its commercial activities in the UK, and on the Freeview platform specifically, and wants to increase investment in the channels.