Broadcast News

Bookmark and Share
23/08/2006

ITV reaches agreement to sell its 45 % stake of TV3 to Doughty Hanson

ITV has announced that it has reached agreement, together with its co-shareholders, for the sale of Irish commercial broadcaster TV3 Television Network (TV3) to Doughty Hanson.
ITV holds its interest in TV3 as a 45% interest in CanWest Granada Media Holdings Limited (CGMH) which is the holding company for TV3. The transaction is currently expected to be completed on or about 31 August, 2006 and is subject to regulatory approval.
ITV will receive cash consideration for its stake in CGMH of approximately £70 million, having elected not to take-up its pre-emption rights in respect of the Irish Broadcaster.
The sale represents a further example of ITV's successful disposal programme of non-core assets which is now approaching £500 million since the merger creating ITV plc in 2004.
ITV will continue to focus on its core UK broadcasting operation and growing its revenues outside ITV1 advertising through developing its UK and international production and distribution businesses and its consumer operations.
The cash received will be used to fund the current programme of returning £500 million to shareholders.
Doughty Hanson & Co is one of Europe's largest independent private equity fund managers.
(DS/SP)
VMI.TV Ltd

Top Related Stories
Click here for the latest broadcast news stories.

29/09/2017
RTS Announces Nominations For North West Awards 2017
The Royal Television Society (RTS) North West Centre has announced the nominations for its annual awards, at an event sponsored by Audio Network. Cat
23/07/2001
ITV TO FORM NEW ONLINE DIVISION
ITV ARE to form a new division, ITV Interactive, as the unified home for all online and interactive activities and the portal operations of ITV Active
02/10/2015
RTS North West Announce Awards Shortlist
The Royal Television Society (RTS) North West Centre has announced the shortlist for its annual awards at an event hosted by CBBC presenter Lauren Lay
29/04/2024
ITV Launches New Ambassador Programme
ITV has launched ITV Insiders, an unprecedented content ambassador programme that seeks to put ITV's brand and programming at the heart of millions of
17/06/2002
TV3 reduces debts in quest for profitability
The Republic's first national independent commercial broadcaster, TV3, is still haemorrhaging around €5 million a year up to August last year, but is
02/02/2023
ITV Launches ITV Academy
ITV has announced the launch of the ITV Academy to address current and future skills gaps. Sonny Hanley – whose career at ITV has spanned over 20 year
25/03/2022
Ninja Warrior UK To Return To ITV And ITV Hub
Ninja Warrior UK is about to get tougher as a revamped, high octane new season returns to ITV and ITV Hub. Potato, the award-winning ITV Studios label
13/05/2004
SMG settles differences with ITV over digital rights
Following the recent sale of The Scottish Media Group's (SMG) 25% GMTV stake held to ITV plc, the two companies have reached an agreement on the use o
13/04/2023
TV3 Deploys Riedel Artist Ecosystem
Riedel Communications has announced that TV3, the primary television channel of the Catalan public media company Corporació Catalana de Mitjans Audiov
19/04/2006
ITV Play launches on Freeview
ITV has today launched its newest digital channel on Freeview – ITV Play – with big name programmes lined up for the coming weeks. The ITV Play channe
02/05/2002
Prebble quits as ITV chief
The chief executive of ITV, Stuart Prebble, has resigned. Prebble had been under pressure to quit because of the spectacular implosion of ITV Digital.
21/11/2006
ITV Board Rejects NTL Merger Proposal
The Board of ITV has rejected a merger proposal from NTL as one with "little strategic logic." In a statement, the Board said it believed that "wherea
06/12/2005
ITV plc acquires Friends Reunited Ltd
ITV will acquire the holding company of the group for an expected initial consideration of up to £120 million to be satisfied by a mixture of cash fro
16/05/2008
ITV Acquires Silverback
ITV has announced that it has acquired the Swedish-based independent production company and programme formats business Silverback AB. The deal is cons
19/04/2010
Live Streaming Success For TV3
Internet users can now see their favourite Irish TV programmes live. Dublin-based tv3 is allowing viewers to watch many of the most popular sports, ne