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ITV Secures Ministerial Approval For UTV Television Acquisition

Fri, 19th Feb 2016 09:45

LONDON (Alliance News) - ITV PLC on Friday said it has secured ministerial approval for the acquisition of the television assets of UTV Media PLC.

ITV is acquiring the assets for GBP100.0 million in cash via a deal struck in October.

The deal has now been approved by Irish Minister for Communications, Energy and Natural Resources and the pair expect the deal to complete by the end of February.

ITV shares were up 1.2% to 252.7 pence on Friday morning, while UTV shares were down 1.9% to 176.6p.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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