BBC ‘to bid for Virgin’s UKTV stake’

BBC Worldwide is reportedly attempting to purchase Virgin Media’s share of its joint venture UKTV. According to The Telegraph, formal talks have yet to commence but it is understood that the BBC’s commercial arm is keen to wholly acquire the business and then examine ways to put more of the channels – including the flagship UKTV Gold – on Freeview.
At the end of this year’s third quarter, Virgin Media reported that its investment in UKTV is carried on its balance sheet at £371.2m, including a loan – which effectively acts as a revolving facility of funds for the network – of £148.3m.

The acquisition would be the latest in a string of BBC Worldwide expansions; in October, it bought travel guide group Lonely Planet and confirmed plans to launch 30 channels around the world; and last month, it launched a new production.