Here's why it's not a public company:
* No shareholders: The BBC doesn't have shareholders who own stock and receive dividends. It's not a for-profit organization.
* Government oversight: While independent, the BBC is ultimately accountable to the UK government. The BBC Charter, which outlines its mission and operating principles, is renewed by the government every 10 years.
* Public funding: The BBC's primary source of income is the licence fee, a mandatory payment from households with television sets. This funding model ensures its independence from commercial pressures.
However, the BBC does have a Board of Governors responsible for its overall governance and strategy. This board is appointed by the government but operates independently to ensure the BBC's editorial independence.
So, while the BBC isn't a public company in the traditional sense, it is a publicly funded organization with a significant degree of public accountability.