10th Aug 2021 10:10
(Alliance News) - ITV PLC on Tuesday said it has acquired a minority interest in Nineteen21 Ltd, which trades as ismybillfair.com.
The FTSE 100-listed television network said it acquired the stake - valued at GBP1.3 million - in exchange for advertising inventory across its services.
"ITV reaches over 40 million viewers every week with its programmes on ITV's family of channels, as well as the ITV Hub, which is available on 35 platforms," the company noted.
The online cost-saving service, ismybillfair, allows UK households to access cheaper household bills without switching supplier, ITV said.
Currently, the service is available for energy bills, with plans to expand to broadband, the company added.
Fund manager of ITV AdVentures, Niko Waesche, said its investee is "An extremely useful service for British consumers and we're looking forward to bringing it to a mass audience, and helping ismybillfair.com to grow, through ITV's unique reach."
The British broadcaster noted that it has an option to invest a further GBP1.3 million in future.
Shares in ITV were trading marginally higher at 115.20 pence each in London on Tuesday morning.
By Scarlett Butler; [email protected]
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