Pearson Television Increases Channel 5 Stake

Pearson PLC 15 February 2000 PEARSON TELEVISION INCREASES CHANNEL 5 STAKE Pearson Television, part of Pearson plc, the international media company, has today increased its economic interest in Channel 5 Television, the UK terrestrial broadcaster, from 24% to 29.25% at a cost of $81 million (£51 million). The increase in Pearson Television's economic interest in Channel 5 follows the decision by Warburg Pincus Ventures, one of the four original shareholders in the project, to dispose of its stake. Each of the three remaining Channel 5 shareholders - Pearson Television, CLT-UFA UK and United News and Media - have exercised their pre-emption rights over the Warburg Pincus interest on a pro rata basis. Pearson Television Chief Executive, Richard Eyre, who will be joining the Channel 5 board, said today: 'By increasing our investment in Channel 5, we are demonstrating both our satisfaction in its performance so far, and our confidence in its future. The channel is gaining in popularity with both audiences and advertisers, and is well placed to capitalise fully on the growing penetration of digital television and Internet in UK homes.' Channel 5 began transmission in March 1997, and in 1999 achieved an average all-channel viewing share among adults (16+) of 5.3%, compared to 4.3% in 1998. Channel 5 was the only UK terrestrial channel to increase its share of audience in 1999 across the day. Pearson Television's core business in the UK will remain television production, with such successful shows as The Bill, This is Your Life and Family Affairs. For further information: John Fallon Pearson plc Tel: +44 (0)20 7411 2310 Roy Addison Pearson Television Tel: +44 (0)20 7691 6830

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Pearson (PSON)
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