MUMBAI: BBC Worldwide's former CEO Rupert Gavin has set up an investment group Kingdom Media. The investment company would bid for the Corporations' commercial assets, that may be sold off.

The investment group is likely to bid for any assets that the BBC decides to sell off after the review of BBC Worldwide is complete. It could also form partnerships with the corporation..

Gavin, who quit the BBC in July is understood to have partnered with a number of private equity firms to create the investment company that could work with the BBC on joint ventures or pursue acquisitions, media reports inform. .

Earlier this year BBC sold its technology arm to Siemens. Other businesses within the BBC umbrella are now seen as ripe for privatisation, such as the outside broadcast division, on-air branding, post-production and BBC studios.

While a wholesale sale of BBC Worldwide may be off the cards BBC DG Mark Thompson hasn't ruled out the possibility of setting up joint-ventures with private sector partners to run certain BBCWW arms, such as publishing, licensing and merchandise.