B952 - Media Company Privatisation Bill 2016

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RayApparently
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B952 - Media Company Privatisation Bill 2016, TSR UKIP
Media Company Privatisation Bill 2016

A
BILL
TO

Privatise the BBC and Channel 4
BE IT ENACTED by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

1 Channel Four Television Corporation

(1) Channel Four Television Company will be valued by the Department for Culture, Media, and Sport to find a share price.
(2) Once a valuation has taken place the department shall allow individuals to purchase share in the Channel Four Television Company.
(3) A 30% stake in Channel Four Television Company shall be transferred to United Kingdom Financial Investments Ltd.

2 British Broadcasting Corporation

(1) The British Broadcasting Corporation will be valued by the Department for Culture, Media, and Sport to find a share price.
(2) Once a valuation has taken place the department shall allow individuals to purchase share in the British Broadcasting Corporation.
(3) A 30% stake in the British Broadcasting Corporation shall be transferred to United Kingdom Financial Investments Ltd.

3 Repeals

(1) Part 3 Chapter 1 of the Communications Act 2003 is hereby repealed.
(2) Part 4 of the Communications Act 2003 is hereby repealed.
(3) Part 3 Chapter 4 Section 338 of the Communications Act 2003 is hereby repealed.
(4) Chapter 4 sections 295-297 titled Special Obligations for Channel Four of the Communications Act 2003 is hereby repealed.
(5) The Communications (Television Licensing) Regulations 2004 is hereby repealed.
(6) The Communications (Television Licensing) (Amendment) Regulations 2010 is hereby repealed.

4 BBC Trust

The BBC trust will be disbanded immediately at the passing of this Act.

5 Extent, commencement and short title

(1) This Act extends to the whole of the United Kingdom.
(2) This Act comes into force on the 1st April 2017
(3) This Act may be cited as the Media Privatisation Act 2016


Notes

This is a simple bill to privatise Channel 4, and the BBC while removing from British law all provisions for a licence fee to be collected from individuals.
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Lime-man
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Nay,

This is ideological, there's nothing wrong with either the BBC or Channel 4
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GaelicBolshevik
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Nay nay nay nay nay.

You all know why.
This is purely ideologically driven and provides no benefit to the state, except the threat of losing two of the largest television corporations in Europe.
If it's meant to get rid of the licence fee, why not just abolish the licence fee?


DRINK!!
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Aph
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No, I don't like the idea of privTising these companies.
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Imperion
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Nay nay nay
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SakuraCayla
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Yeah no, I think it is fairly obvious why
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username1899909
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Aye ! They should be private
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Lime-man
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(Original post by hazzer1998)
Aye ! They should be private
why?
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The Financier
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The method of valuation seems rather odd. Why do you expect the Ministry of Fun to be more capable and accurate at valuation than professional investment banks? I would also question why they're in charge of looking at the share price only, when a number of factors including the number of shares issued are important in an offering like this. Giving inexperienced individuals with no education in an area outside of their focus control over a serious financial matter seems rather unwise.
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Lime-man
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(Original post by The Financier)
The method of valuation seems rather odd. Why do you expect the Ministry of Fun to be more capable and accurate at valuation than professional investment banks?
Wouldn't it be Imperion who provides the valuation if the CMS is valuing.
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balanced
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Aye. They are no longer Un biased and no state should control the media in the way we do.
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PetrosAC
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(Original post by Lime-man)
Nay,

This is ideological, there's nothing wrong with either the BBC or Channel 4
This. If there was an actual problem, I'd welcome a change. As it stands though, this is purely an ideological move that is unnecessary. Nay.


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Imperion
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(Original post by Lime-man)
Wouldn't it be Imperion who provides the valuation if the CMS is valuing.
:yep:

(Original post by DMcGovern)
Nay nay nay nay nay.

You all know why.
This is purely ideologically driven and provides no benefit to the state, except the threat of losing two of the largest television corporations in Europe.
If it's meant to get rid of the licence fee, why not just abolish the licence fee?


DRINK!!
Out of curiosity, why do you sign off with "DRINK!!!" ?
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The Financier
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(Original post by Lime-man)
Wouldn't it be Imperion who provides the valuation if the CMS is valuing.
I don't see the relevance to my point.
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Aph
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(Original post by Imperion)
:yep:



Out of curiosity, why do you sign off with "DRINK!!!" ?
Psssst, if this passes the BBC should have 1,000,000 shares which are valued at £50bn each, same for channel 4
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Lime-man
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(Original post by The Financier)
I don't see the relevance to my point.
It was just out of curiosity tbh, couldn't he just value them at £1tn and make sure that no one bought them if he didn't want them to be privatised?
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Saracen's Fez
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I'm presuming the public service obligations on both of these networks will be retained in a similar style to the PSB obligations that ITV must abide to?
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Life_peer
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(Original post by Lime-man)
Nay,

This is ideological, there's nothing wrong with either the BBC or Channel 4
1. I think there's a lot wrong with the BBC, particularly all the liberal-friendly misinformation and political correctness.

2. Could you make your signature even bigger, please? The images still fit on my screen and the scrolling distance is too short and therefore too comfortable.
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Lime-man
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(Original post by Life_peer)
1. I think there's a lot wrong with the BBC, particularly all the liberal-friendly misinformation and political correctness.

2. Could you make your signature even bigger, please? The images still fit on my screen and the scrolling distance is too short and therefore too comfortable.
1. You say that, but it does a world of good in terms of soft power and I don't think that we should be jeopardising that by privatising it.

2. You don't have to look at my signature if you don't want to.
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The Financier
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(Original post by Lime-man)
It was just out of curiosity tbh, couldn't he just value them at £1tn and make sure that no one bought them if he didn't want them to be privatised?
So long as you have someone who needs to sell them, the price will fall off a cliff. With 30% of shares going to UKFI, they'll need to convert some of that into cash to buy other investments eventually meaning you can't hold that valuation forever. You also have employees with stock options who will have to cash out at some point or another, otherwise that paper is worth nothing if it can't be exchanged. Any inkling of selling will have to be met at a price that is acceptable for both the buyer and seller so you'll just see the value nosedive.

Part of the reason you get banks to underwrite an IPO is so that you have some guaranteed demand for your shares (from interested institutions, hedge funds etc.) before it's released to the market which prevents a huge fall from a silly valuation.
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