Partner Article

ITV announces £100m takeover of UTV

ITV has announced it will acquire 100% of Northern Irish television broadcaster, UTV Ltd, in a deal worth £100m.

The deal, which is subject to regulatory and UTV Media plc shareholder approval, will be financed through existing cash and debt facilities, says ITV.

On completion of the acquisition ITV will own 13 of the 15 regional licences for the Channel 3 network and the combined business will benefit from ITV’s continued investment in content, its advertising sales team and broadcast infrastructure.

“We have a long-standing relationship with UTV, which has been the leading commercial broadcaster in Northern Ireland for many years thanks to its strong regional identity and blend of excellent local programming and strong network shows,” said ITV Chief Executive Adam Crozier.

“UTV Television’s strategic objectives are closely aligned with our own and we are very pleased that they are joining the ITV family. We are looking forward to working with the team going forward.”

John McCann, Group Chief Executive of UTV Media plc, said: “The market leading success of our television business has been built over many years on the well-established formula of high quality local programming packaged around an attractive network schedule. Becoming part of the ITV Family is by far the best way to take UTV’s Television business forward with an ongoing focus to provide brilliant television to viewers right across Ireland.”

This was posted in Bdaily's Members' News section by Ellen Forster .