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30/08/2000

MANAGEMENT BUYOUT PLANNED AT HTV

THE FORMER management of HTV, the ITV franchise for Wales and the west of England, is planning to make a bid for the broadcaster when it goes on the block next month.
The franchise is to be put up for sale to satisfy regulators after Granada agreed to buy the ITV assets of United News & Media.
The management of HTV is expected to face stiff competition from Carlton Communications and possibly SMG – which owns the Grampian and Scottish TV groups.
The two executives involved are among the team which in June last year paid £16.5 million for Channel Television, the smallest of the ITV operators. They are likely to use the business as the vehicle for the bid.
The HTV franchise is expected to go under the hammer after the completion next month of the £450 million deal between Granada and United News & Media.
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