The BBC's broadcast unit, imaginatively called BBC Broadcast, has been flogged off to Macquarie Capital Alliance and Macquarie Bank for a cool £166m. The deal will need government approval but BBC bosses claim the sale is needed because the division can only properly develop and expand in the private sector. As part of the deal the new owners are guaranteed an ongoing contract to provide services to the Corporation. For their part the new owners have made assurances regarding BBC Broadcast employees' contracts and pensions.
A spokesman for broadcasting union BECTU said the announcement was a "shock," and called for urgent talks between the union and the government. While they welcomed Macquarie's assurances on pensions and stuff, the union accused the BBC of "selling the family silver" in spinning off units like Broadcast into the private sector.