ITV PLC
23 August 2006
23 August 2006
ITV agrees sales of TV3 Television Network Limited
ITV plc announces that it has reached agreement, together with its
co-shareholders, for the sale of 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 the Irish
commercial broadcaster 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.
For further enquiries please contact:
ITV plc
Tel: 020 7843 8000
Press enquiries
Brigitte Trafford - Communications Director
Jim Godfrey - Head of Corporate Affairs
Investor enquiries
James Tibbitts - Company Secretary
Georgina Blackburn - Head of Investor Relations
Caroline Bailey - Investor Relations Analyst
Citigate Dewe Rogerson
Tel: 020 7638 9571
George Cazenove
Website: www.itv.com investor information: www.itvplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.