LONDON (Thomson Financial) - Motive Television PLC said it acquired a 75 pct stake in Manchest
er-based Scarlet Television for 50,000 stg from Medal Entertainment & Media PLC and said it will invest another 250,000 stg in the development of Scarlet.
The remaining 25 pct stake in Scarlet is held by its founder and managing director Paula Trafford.
Motive will transfer some of its shares in Scarlet to Trafford, resulting in Trafford owning 49.9 pct in Scarlet and 50.6 pct in Motive, the release said.
Trafford will also join the board of Motive Television (Holdings) Ltd.
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