BBC buys 2 entertain stake
05 March 2010 09:43
The commercial arm of the BBC has agreed a £17 million deal to buy a minority stake from Woolworths in DVD firm 2 entertain.
BBC Worldwide said no licence fee money had been used to buy the 40% stake, which brings to an end more than a year of uncertainty about 2 entertain's future.
The DVD company publishes DVD and Blu-ray titles for dozens of hit BBC shows including Gavin And Stacey, Doctor Who and Top Gear. It also distributes BBC titles around the world, in more than 60 territories and has sold seven million copies of the natural history series Planet Earth alone.
BBC Worldwide had been in negotiations with the administrators of Woolworths and the agreement is thought to secure the future of 2 entertain.
John Smith, chief executive of BBC Worldwide, said: "I am pleased that we have finally concluded these negotiations, and have secured the future of 2 entertain.
"This comes as good news for a variety of stakeholders: 2 entertain's retail partners know it is now backed by a stable owner; consumers can continue to enjoy BBC content on DVD in their own homes; the independent production sector already works closely with 2 entertain; and licence fee-payers will continue to benefit from 2 entertain's contribution to BBC Worldwide, which helped us return a total of £153 million to the BBC in the last financial year."
Paul Dempsey, chief executive of 2 entertain and managing director of BBC Worldwide Home Entertainment, said: "The 2 entertain business has not been distracted by the events of the past 18 months, continuing to deliver impressive results. Under full BBC Worldwide ownership, it now looks forward to a more settled period and playing an important role in BBC Worldwide's future plans".
Retail news is updated every weekday and is provided courtesy of: 
