November 15, 2017 / 10:13 PM / in a year

BBC looking at 500 million pound bid for UKTV: Telegraph

FILE PHOTO: A man enters BBC New Broadcasting House in London November 11, 2012. REUTERS/Luke MacGregor

(Reuters) - The BBC’s commercial arm is considering a 500-million-pound ($658.55 million) bid for full control of broadcaster UKTV, the Daily Telegraph newspaper reported, citing sources.

BBC Worldwide is in talks with advisers about borrowing hundreds of millions of pounds from private investors to buy out the half of UKTV it does not already own, the newspaper added.

“This is speculation, and it is incorrect to suggest the BBC has made any judgements based on a deal that isn’t even complete. Should that happen, we would look forward to discussing the continued success of UKTV with Discovery,” a BBC spokesperson said in an email to Reuters.

UKTV, whose channels include Dave and Gold, is an independent commercial joint venture between BBC Worldwide and U.S. broadcaster Scripps Networks Interactive SNI.O.

Discovery Communications Inc (DISCA.O) had announced earlier this year that it is acquiring Scripps Networks Interactive Inc for $11.9 billion.

UKTV and Scripps were not immediately available for comment.

Reporting by Parikshit Mishra in Bengaluru; editing by Diane Craft

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