Richard Desmond said to be lining up £700MN Channel 5 sale:
http://www.satsupreme.com/showthread.php/275708-Richard-Desmond-said-to-be-lining-up-£700MN-Channel-5-sale?goto=newpost via SatSupreme.com - Satellite TV - Daily Satellite TV News
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Richard Desmond said to be lining up £700MN Channel 5 sale
Editor | 02-01-2014
The UK’s fifth largest broadcaster, Channel 5, is said to be in play in a deal worth £700 million, respected financial news outlets in the country are reporting.
According to the Financial Times, the channel’s owner, Northern & Shell proprietor Richard Desmond has asked advisers to work on a possible sale of the free-to-air offering, which also includes the popular Demand 5 catch-up TV service, which was acquired in 2010 for £103.5 million. Under Desmond’s stewardship, Channel 5 has begun to make money and returned operating profits of £20.6 million in the first half of 2013, compared with a £16.1 million loss a year earlier.
The FT added that Northern & Shell’s banker Barclays is advising the company on options for the television network, including a sale of the business early in the New Year. Yet it stressed that there was no guarantee that the sale would be pursued. However, the financial news outlet quoted Northern & Shell as saying: “As a media group with a broad portfolio of assets we are often the subject of speculation, but it remains our policy not to comment on these matters.”
Editor | 02-01-2014
The UK’s fifth largest broadcaster, Channel 5, is said to be in play in a deal worth £700 million, respected financial news outlets in the country are reporting.
According to the Financial Times, the channel’s owner, Northern & Shell proprietor Richard Desmond has asked advisers to work on a possible sale of the free-to-air offering, which also includes the popular Demand 5 catch-up TV service, which was acquired in 2010 for £103.5 million. Under Desmond’s stewardship, Channel 5 has begun to make money and returned operating profits of £20.6 million in the first half of 2013, compared with a £16.1 million loss a year earlier.
The FT added that Northern & Shell’s banker Barclays is advising the company on options for the television network, including a sale of the business early in the New Year. Yet it stressed that there was no guarantee that the sale would be pursued. However, the financial news outlet quoted Northern & Shell as saying: “As a media group with a broad portfolio of assets we are often the subject of speculation, but it remains our policy not to comment on these matters.”
http://www.satsupreme.com/showthread.php/275708-Richard-Desmond-said-to-be-lining-up-£700MN-Channel-5-sale?goto=newpost via SatSupreme.com - Satellite TV - Daily Satellite TV News
via Tumblr http://kiwieurope.tumblr.com/post/71959441682
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