BBC rekindles Woolworths DVD buyout

The BBC offers cut-price deal to Woolworths

The BBC is in crucial talks today to negotiate a sale of 2entertain, the DVD distributor it owns with Woolworths.

Currently, the BBC owns a 60 per cent stake in 2entertain with the remaining 40 per cent owned by Woolworths.

The BBC is said to have put a £40 million offer in to buy the remaining 40 per cent from the ailing high street chain.

Smaller offer

The offer of £40 million is considerably less than what the BBC originally offered back in November, which was said to be a cool £110 million.

Even though Woolworths is in severe trouble, the £40 million offer will not sit nicely with the board, as they know the company is worth much more than this.

DVD revenues from BBC Worldwide have been lucrative for the Beeb, with profits, according to the Guardian, currently up 91 per cent year on year.