Woolies has confirmed it is considering selling its stake in 2Entertain, a joint venture business with BBC Worldwide which, among other things, owns the Demon Music Group. It told the City last week: "Woolworths Group plc notes the recent press speculation regarding its stake in 2Entertain. The company can confirm that it is considering its options with regard to this stake which may or may not lead to a transaction". 2Entertain - which also owns 2Entertain Video and Banana Split Productions – has enjoyed quite a bit of success in recent years, more so than Woolies itself, and a sale of it could bring the retailer a useful cash boost.
May 27, 2008
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1 min read
Woolies considers sale of 2Entertain share
Woolworths confirms it is considering its options on its stake in 2Entertain, the joint venture with BBC Worldwide that owns the Demon Music Group.