Given the propensity of private equity firms to install their own people on the boards of companies in which they invest, expect mixed reactions if Apax Partners wins the bidding battle for BBC Broadcast.

Apax is one of the lucky four companies in the running to buy the BBC's media distribution arm. And who is one of their media team advisers at Apax? None other than Greg Dyke, someone who knows a bit about the inner workings of the Beeb.