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(Alliance News) - STV Group PLC on Thursday confirmed the renewal of its Channel 3 licences for the north and central regions of Scotland.
The Glasgow-based television broadcaster and content producer said that after agreeing to new financial terms with regulator Ofcom, it has extended its licenses for another ten years starting January 1, 2025.
On Wednesday, ITV PLC also had said it agreed to the same 10-year term for each of its 13 regional Channel 3 licenses, running to the end of 2034.
STV noted that a network programming agreement between the two companies will stay in place throughout the duration of their licenses.
STV Chief Executive Officer Simon Pitts said: "We welcome the renewal of our licences, which provides us with the certainty to continue to invest in our business for the long term, while ensuring continued delivery of valued public service broadcasting."
STV shares were up 1.9% to 241.50 in London on Thursday morning.
By Elijah Dale, Alliance News reporter
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