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6 Nov 2015 07:00
UTV MEDIA PLC - Trading StatementUTV MEDIA PLC - Trading Statement
PR Newswire
London, November 5
UTV MEDIA PLC TRADING UPDATE
On 24 August 2015, and in response to media speculation, the Board of UTV Media plc (UTV) confirmed that it was in discussions regarding a potential sale of its television assets. These discussions led to a further announcement on 19 October 2015 that UTV had entered into a conditional agreement to sell its television assets to ITV Broadcasting Limited (ITV) for a cash consideration of £100m (the “Disposal”).
The uncertainty created by the speculation around these discussions and the time to completion of the agreement has had, and is continuing to have, a negative impact upon trading within our Irish television business. As a result, the Board anticipates that losses for this business for the full year 2015 will be approximately £13m. Trading within our Northern Irish television business and our radio division is broadly in line with the board’s expectations.
The Board expects the Class 1 shareholder circular in relation to the Disposal to be sent to shareholders shortly.
6 November 2015
Enquiries
Orla McKibbin, Director of Communications
Tel: +44 (0) 28 9026 2188
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