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BBC Studios Ltd. is a British content company. It is a commercial subsidiary of the BBC that was formed in April 2018 through the merger of the BBC's commercial production arm and the BBC's commercial international distribution arm, BBC Worldwide. BBC Studios creates, develops, produces, distributes, broadcasts, finances, and sells content around the world, returning around £200 million to the BBC annually in dividends and content investment. The production brings together the majority of BBC Television's former in-house production departments; Factual, Drama, Comedy, (both combined as Scripted in the new division), Entertainment, and Music & Events.