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FLEXTECH SET TO AGREE CHANNELS DEAL WITH BBC

Friday 16 August 1996 | 00:00 CET | News
Flextech, satellite and cable channel group, has established itself as the favourite for a partnership agreement with BBC, following the decision by the BBC board of governors to formally approve talks between the two companies. The companies hope to reach an agreement by November 1996 for a project to launch a minimum of six new BBC satellite channels as part of the Flextech umbrella. The proposed partnership is supported by TCI (Denver, CO), media group with a 51% stake in Flextech, and the upper echelons of BBC. BBC has not ruled out forming a partnership with British Sky Broadcasting, satellite unit of News Corp, although Flextech is believed to hold a number of advantages, including its forthcoming takeover of UK Gold, cable and satellite subsidiary of Pearson which broadcasts the programme libraries of BBC and Thames Television. Separately, Flextech reports a pre-tax loss of GBP7.9 mil for the six months to end-June 1996, vs a loss of GBP7.4 mil for the year-earlier period, on turnover up by 63% to GBP24.8 mil.

Categories: General
Countries: United Kingdom
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