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Incoming BBC chairman Sameer Shah is looking for a buyer for his production television company to avoid being forced to shut it down ahead of his formal appointment as chairman of the national broadcaster's board.
Shaw will have to relinquish his control of the 40-year-old TV production company Juniper to avoid a conflict of interest in his new role, according to people familiar with the matter.
Juniper makes television programs for various broadcasters such as Channel 4 and Netflix, but also has extensive links with the BBC, producing programs broadcast by the corporation. Political London.
Shaw bought Juniper in 1998 from Michael Wills, who founded the company in 1984 and sold the group in 1997 after being elected a Labor MP. Shaw is to leave the company to return to his new role as chairman of the BBC's board.
The TV veteran was accused of conflict of interest for retaining Juniper's ownership as a non-executive director on the BBC board between 2007 and 2010, but he managed to keep the company.
However, his appointment as chairman of the corporation has made his position at Juniper untenable, according to people familiar with the situation. His annual salary as head of the BBC is £160,000. The BBC Board meets at least 11 times a year.
A person familiar with the situation said they were „exploring a number of options, from selling the company to winding it up.”
Shah's formal arrival as chairman of the national broadcaster has been delayed until the next meeting of the Privy Council, which will rubber stamp his appointment. That is expected to take place this month, which would allow Shaw to join the board in early March.
The BBC must have its new chair in place before announcing a new strategy for the company's future, which is expected to focus on a shift to digital channels, people close to the process said.
As part of the strategic renewal, the broadcaster is expected to continue to curtail its operations due to cash crunch due to the freeze in non-license revenue over the past two years.
A person familiar with the process said Shaw would struggle to sell his business given pressures in the industry, with broadcasters such as Channel 4 being forced to cut back on new programmes. Shah declined to comment.
This week, ITV said a sharp fall in advertising revenue would cripple recruitment in the first half of 2024 and tighten spending.
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