The Week: City News - BBC arm to invest £400m

BBC Worldwide, the commercial arm of the BBC, plans to spend up to £400 million on acquisitions and new ventures after reporting a 24 per cent rise in pre-tax profits to £111 million. John Smith, the company's chief executive, outlined a five-point plan to increase sales, including using its debt facility to finance acquisitions, new online ventures and developing its overseas revenue streams.