23rd Aug 2006 07:01
ITV PLC23 August 2006 23 August 2006 ITV agrees sales of TV3 Television Network Limited ITV plc announces that it has reached agreement, together with itsco-shareholders, for the sale of TV3 Television Network ("TV3") to DoughtyHanson. ITV holds its interest in TV3 as a 45% interest in CanWest GranadaMedia Holdings Limited ("CGMH") which is the holding company for the Irishcommercial broadcaster TV3. The transaction is currently expected to becompleted on or about 31 August, 2006 and is subject to regulatory approval ITV will receive cash consideration for its stake in CGMH of approximately £70million, having elected not to take-up its pre-emption rights in respect of theIrish Broadcaster. The sale represents a further example of ITV's successfuldisposal programme of non-core assets which is now approaching £500 millionsince the merger creating ITV plc in 2004. ITV will continue to focus on its core UK broadcasting operation and growing itsrevenues outside ITV1 advertising through developing its UK and internationalproduction and distribution businesses and its consumer operations. The cashreceived will be used to fund the current programme of returning £500 million toshareholders. For further enquiries please contact: ITV plc Tel: 020 7843 8000 Press enquiriesBrigitte Trafford - Communications DirectorJim Godfrey - Head of Corporate Affairs Investor enquiriesJames Tibbitts - Company SecretaryGeorgina Blackburn - Head of Investor RelationsCaroline Bailey - Investor Relations Analyst Citigate Dewe RogersonTel: 020 7638 9571George Cazenove Website: www.itv.com investor information: www.itvplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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