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UTV Media confirms sale of its’ television assets to ITV for €135m
20 Oct 2015 : Seán Brosnan
The sale includes newly launched Irish channel UTV Ireland
UTV Media has confirmed the sale of its television assets, including newly launched UTV Ireland, to ITV for £100m (€135m).

After the announcement of the deal, UTV stated that they would continue to concentrate on its’ operations in radio and online. As part of the sale, the Continuing Group has agreed to cease using the “UTV“ name with effect from Completion. A resolution to change UTV's name to a new name not containing the word “UTV“ will be proposed at a general meeting of Shareholders to be convened in due course prior to Completion.

Commenting on the Sale, Richard Huntingford, Chairman of UTV said: “The last few years have seen increasing consolidation in the global television sector, creating media companies that span content, broadcast and platform ownership. Having successfully extended the reach of our television business with the launch of UTV Ireland, I believe that Shareholder value can be maximised through our television interests becoming part of ITV’s global broadcast and content business.”

Huntingford continued: “I believe that the price reflects the inherent value within the UTV Television business. ITV will be a good owner of the business and, with its scale and reach, will be able to accelerate the future growth of the business. I want to thank all the UTV Television staff for their outstanding service to UTV over many years, and I wish them every success in the future.”





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