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The BBC has sold off its creative broadcast services division, BBC Broadcast, to an Australian consortium for pounds 166 million.
The bid, from the investment fund Macquarie Capital Alliance and Macquarie Bank, the largest investment bank in Australia, sees the two companies respectively own 65 per cent and 35 per cent of the division through their jointly owned company Creative Broadcast Services Ltd.
BBC Broadcast creates in-house trailers for the BBC and ads for clients such as McDonald's and Woolworths, as well as ...