ITV PLC
05 April 2006
ITV Agrees Sale of Granada Learning
ITV plc ('the Company') today announces the sale of Granada Learning, the
educational publishing business, to the private equity firm Veronis Suhler
Stevenson in a deal worth up to £53 million.
The initial consideration consists of £35 million, satisfied through a mixture
of cash and vendor loan notes, with a further £18 million payable subject to the
performance of the business over the next two years.
Since the creation of ITV in 2004 the Company has raised more than £300 million
in cash through the disposal of non-core assets.
-ENDS-
Contacts:
Analysts Tel: 020 7620 1620
Georgina Blackburn Head of IR
Media
ITV Tel: 020 7396 6000
Brigitte Trafford Communications Director
Jim Godfrey Head of Corporate Affairs
Citigate Dewe Rogerson Tel: 020 7282 1076
Anthony Kennaway
Notes to Editors:
About ITV
ITV is Britain's biggest and most popular commercial broadcaster, with 82% of
people in the UK watching ITV in any week. ITV's flagship channel - ITV1 - is
the home of the most popular drama and entertainment programmes on British
television and ITV2, 3 and 4 are among the most popular channels on
multi-channel television.
The Granada Learning Group consists of the following:
Granada Learning Limited
The NFER-Nelson Publishing Company Limited
Letts Educational Limited
David Fulton (Publishers) Limited
Leckie and Leckie Limited
David Fulton (Publishers) Limited
This information is provided by RNS
The company news service from the London Stock Exchange
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