UTV Media confirms potential sale of TV assets

UTV Media has confirmed that it is in discussions regarding a potential sale of its television assets.

In a note to the market today, the Belfast-based company notes the recent media speculation and says discussions are ongoing and may or may not result in such a transaction being agreed.

UTV says a further announcement will be made when appropriate, but the Belfast Telegraph says the deal will be done this week.

The sale of the main television channel which launched UTV as a business in 1959 would leave the company with mainly radio stations – but the UK ones are also under review. Juice FM Liverpool has already been sold to Global and is pending regulatory approval.

Today’s confirmation mentions assets rather than asset, so would assume to include the recently launched UTV Ireland as well.

UTV expanded in 2005, buying The Wireless Group for £98m and renaming it UTV Radio. Today it has nine radio stations in Ireland and 13 radio stations in the United Kingdom with a further four launching on DAB next year.

Posted on Monday, August 24th, 2015 at 7:18 am by RadioToday

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