Following the crash of co-owner Woolworths as an early casualty of the recession, 2entertain – the publishers behind your Doctor Who DVDs – have finally seen its future secured thanks to a full purchase by BBC Worldwide.
Originally created in September 2004 as a 60:40 joint venture with Woolworths (which combined the former VCI video/DVD, music and TV production business with BBC Worldwide’s video publishing arm) 2entertain has been for sale since 2008.
The agreed price of Â£17m for the purchase of the outstanding 40% minority stake in 2|entertain has been funded from existing cash at BBC Worldwide, which has no access to licence fee income.
Paul Dempsey, CEO of 2|entertain and Managing Director, BBC Worldwide Home Entertainment, said:
“The 2|entertain business has not been distracted by the events of the past 18 months, continuing to deliver impressive results. Under full BBC Worldwide ownership, it now looks forward to a more settled period and playing an important role in BBC Worldwideâ€™s future plans.
Responsible for extending the global reach of British programmes from Top Gear to Doctor Who, 2|entertain distributes product in over 60 territories worldwide, including North America, Australia and Japan.
2|entertain contributed Â£28.6m in 2008/09 to BBC Worldwide profits, with sales of Â£176.4m in this period.