Top businessmen to help BBC cope without licence fee

THE BBC has appointed leading businessmen to head its commercial wing as part of a “self-help” strategy to survive without licence fee funding.

The corporation took action after Nadine Dorries, the Culture Secretary, announced the licence fee would be frozen – creating a £1.5billion budget gap – and suggested the broadcaster’s public funding model could be replaced.

BBC bosses have practised what insiders have termed financial “self help” by appointing experienced businessmen to oversee its commercial wing, as executives brace for a future without licence fee cash.

Sir Damon Buffini, who led the £45billion investment firm Permira for 13 years, has been appointed chairman of the BBC’s Commercial Board to help the corporation out of the billion-pound hole left by the licence fee freeze, with former Disney executive Gunjan Bhow and digital business expert Bhav Singh joining him on the board.

The appointments mark a departure from the BBC habit of choosing broadcasting insiders for leadership positions. Tim Davie, the director-general, said the corporation’s money-making wing could “increase financial returns very significantly”.