When BBC Worldwide offered £110 million, a couple of weeks ago, for the forty per cent stake that failing retailer Woolworths owns in DVD distribution business, 2entertain, the people in charge should have grabbed it will both hands.
However, they did not and now they are counting the cost of not making a quick decision.
2entertain is not part of the Woolworths group, which is now in administration, but Woolworths’ failure is causing 2entertain problems with distribution, and therefore something needs to be done.
BBC Worldwide obviously feel that they are in a strong position, especially as they already own the majority shareholding in 2entertain Ltd and should 2entertain collapse, the rights to a lot of the content would go back to the BBC.
The offer from BBC Worldwide has now been cut down to just £40 million.