The Times of London reports the BBC is expected to lose up to $54.5 million because the British broadcaster won’t solely be making Doctor Who in-house with Davies' upcoming seasons. Since its return in 2005, Doctor Who has been made by BBC and BBC Studios. But under Davies' new tenure, Doctor Who will be made by Bad Wolf Studios. "That’s the external production firm run by former Doctor Who producers Julie Gardner and former BBC Controller of Fiction Jane Tranter—and rumored to be on the verge of being purchased by Sony Pictures Television," explains Gizmodo's James Whitbrook. How is BBC losing money? "Well, because instead of the typical production cost of the series remaining within the BBC itself, it will now go to a third party," explains Whitbrook. "That doesn’t necessarily mean the show will be made at a loss now that this production budget is going outside of the corporation, however. While Bad Wolf and Davies would be responsible for the creative direction and production of Doctor Who, BBC Worldwide—the latest iteration of the company’s commercial arm—will still generate money from the series by sales to international broadcasters and streaming platforms, merchandising deals, and other associated revenue streams."