Don't believe everything you read in the papers. HMNB Portsmouth is not owned by BAE but they manage the maintenance contracts for the ships. They can't close that down as they have a contract for which they're liable. And it makes money for them. The bit they're denying intending to close (for which read "gone by May") is the shipbuilding parts that they bought from VT. It's fundamentally the papers not understanding the differnce between a dockyard - great big area for putting and fixing ships - and a shipyard - slightly smaller place (these days) for making ships. BAE's shipyard sits inside Portsmouth Dockyard.