28th Dec 2016 09:18
LONDON (Alliance News) - Scottish broadcaster STV Group PLC on Wednesday said it has agreed an amendment to its airtime sales agreement with ITV PLC.
The pair agreed to extend the duration of the agreement from a rolling five-year term to an eight-year term.
The agreement has been in place since 2000 and covers airtime and sponsorship sales.
"This represents a modernised trading arrangement designed to support our multi-product commercial offering. This simplifies our relationship with ITV and will provide increased efficiency, transparency and stability for the management of our airtime and sponsorship sales in the long term," STV Chief Executive Rob Woodward said in a statement.
Shares in STV were trading up 0.3% at 358.64 pence on Wednesday.
By Karolina Kaminska; [email protected]; @KarolinaAllNews
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