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BBC sells EastEnders' Albert Square studio complex in bid to raise funds for cash-strapped broadcaster
The Elstree Studios complex is being sold to French insurance company Axa, providing a financial boost of £70m to the BBC.
The BBC has been facing financial hardship since the government froze the licence fee for two years in 2022 due to inflation and set a limit for increases from April. John O'Driscoll at Axa Investment Managers said: 'With the signing of BBC Elstree Centre we will be acquiring one of the oldest working TV and film studios in the UK, with a history dating back almost 110 years. 'The whole area has a long and illustrious history of producing some of the world's most celebrated films and television series and, under our stewardship, we aim to continue that legacy.'
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