Trinity Mirror PLC
5 November 1999
Trinity Mirror plc ('the Group')
STATEMENT RE: LIVE TV
The Board of Trinity Mirror plc ('Trinity Mirror') has reluctantly reached the
decision that Live TV will cease broadcasting.
The Group has received a total consideration of £10 million for its carriage
agreements and a further £5 million for entering into two further agreements.
One to ensure the surrender of the broadcasting licence utilized by Live TV
and the other a non-compete undertaking.
This agreement has been achieved with CPP1, a consortium of cable operators,
which prior to this had a ten per cent holding in Live TV. Trinity Mirror will
therefore cease broadcasting Live TV as of Friday 5 November and will be
responsible for closure costs in the region of £5 million.
The Group's wholly owned cable advertising sales house which sells cable
advertising to a variety of clients is not part of this agreement.
Enquiries:
Trinity Mirror plc
Nick Fullagar 0171 293 3622
Finsbury
James Leviton 0171 251 3801
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