BBC Worldwide that Channel 4 merge with either the commercial network Five or BBC Worldwide. Channel 4's preferred option of a partnership with the latter was confirmed by chief executive Andy Duncan, who added: "We're in discussions with BBC Worldwide at the moment and they're really very exciting." In the same year, the company was awarded the Queen's Award for Enterprise in recognition of the companies growth and success. In 2012, the company began to reorganise their divisions from a product based system to a location-based system, resulting in Jana Bennett leaving the company. BBC Worldwide sold Lonely Planet in 2013 to
BBC divestment by spinning off and selling parts of its organisation. In 1988, it sold off the Hulton Press Library, a photographic archive which had been acquired from the "Picture Post" magazine by the BBC in 1957. The archive was sold to Brian Deutsch and is now owned by Getty Images. During the 1990s, this process continued with the separation of certain operational arms of the corporation into autonomous but wholly owned subsidiaries of the BBC, with the aim of generating additional revenue for programme-making. BBC Enterprises was reorganised and relaunched in 1995, as BBC Worldwide Ltd. In 1998, BBC studios,