Deloitte valuation of Woolworths deal goes to court

The BBC's commercial arm and Deloitte, the administrator of Woolworths, will appear before a High Court judge today to settle an argument over the value of 2Entertain, their joint venture, the Financial Times reported.

The outcome of the case could affect government plans, due to be published next week, to secure the funding of public service broadcasting, because 2Entertain forms part of a proposed new joint venture between BBC Worldwide and Channel 4, according to people familiar with the case, according to the newspaper.

BBC Worldwide argues that the property rights arrangement affecting the 2Entertain business in effect lapsed when Woolworths collapsed last November so a valuation must be made on the basis that the rights – to manufacture and distribute DVDs carrying BBC material – are not available to anyone other then the BBC, the FT said.
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Woolworths deal with BBC in court