BBC ENTERS £240M JOINT INTERNET VENTURE

THE BBC has announced a joint venture with United States venture capital firm TH Lee Global Internet Managers (THLi)to move its commercial Internet operations into a new £240 million pounds.
THLi will pay £32.5 million to acquire and a 13.5 per cent stake in, and fund development of, BBC Worldwide's two commercial Internet businesses.
BBC Worldwide the commercial arm of the publicly funded broadcaster said the new entity will be made up of beeb.com the online shopping guide and beeb.net the Internet service provider.
Rupert Gavin, Chief Executive of BBC Worldwide, said: “The deal comes at a time of exceptional market opportunity, due to a forecast of explosive growth in UK e-commerce. THLi's investment and expertise, together with the strength of the BBC brand, gives beeb.com and beeb.net a major strategic advantage in a rapidly growing marketplace.”
Sharon Pipe, managing director at THLi, said: “The competitive technology and organisational plans for Beeb Ventures are expected to accelerate Beeb.com's appeal among the primary middle-England target market. We think Beeb.com will be the premier e-commerce site in the UK.
The deal will not affect the BBC’s public service Internet offerings, but it will heighten its marketing assets to exploit its commercial magazine and programming brands.
Beeb.com is one of the top ten generators of online advertising in the UK and builds its shopping sites on the back of BBC programmes and magazines, including 'Top Of The Pops,' 'Gardeners' World,' 'Top Gear' and 'Radio Times'.