6th Nov 2013 10:42
LONDON (Alliance News) - UTV Media PLC Wednesday said its Irish subsidiary will launch a new Irish TV channel that will show ITV programmes like Coronation Street and Emmerdale from early 2015, once appropriate statutory broadcasting licences are in place.
The news comes after the company signed a deal with ITV Studios Global Entertainment, giving it rights to ITV programming.
The company already runs a TV channel in Northern Ireland and radio stations in the Irish Republic, but this will be its first TV channel in the south.
"After incurring start-up costs in 2014 we expect the new channel to breakeven in its first full year of operation and then move into profit from 2016," UTV said in a statement.
It will submit an application for a broadcasting license with Irish authorities Wednesday.
UTV Media shares last traded at 220 pence.
By Steve McGrath; [email protected]; @SteveMcGrath1
Copyright © 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
UTV.L