The deal sees BBC Worldwide take a 12.5% stake in Opus Arte, which specialises in producing classical music programmes and DVDs.
The BBC is hoping that the agreement will help to swell the income of its commercial arm, which last year achieved sales of £660m, allowing it to contribute £106m to the corporation.
The nine-year deal is part of a strategy to boost the BBC's commercial activity. It is likely to draw fresh fire from the corporation's critics, who accuse the BBC of using licence-payer money to underpin commercial ventures.
Rupert Gavin, chief executive of BBC Worldwide, has hit back saying that he hopes to see Worldwide deliver £200m by 2006.
"Our joint objective is that the BBC's leading classical music television productions, including operas and ballets from the Royal Opera House and Glyndebourne, will be almost simultaneously available on DVD," Gavin said.
According to the FT, the deal will see Opus Arte invest £10m in new classical programming as well as licensing recent music output from BBC.
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