09 December 2004
9 December 2004
ITV sells Moving Picture Company
ITV plc has agreed the sale of The Moving Picture Company Limited ('MPC'), a
leading post production facility, to Thomson for a cash consideration of £52.7m.
Following the recent sales of Carlton Books, and ITV's stakes in Village
Roadshow and Thomson, this brings the total received from disposals of non-core
assets to more than £260 million.
ITV's ownership originates from Carlton's acquisition of MPC in 1983. Since
then the business has grown significantly and now employs more than 400 people
creating digital visual effects and computer animation for the advertising,
music, television and feature film industries.
Commenting, Charles Allen, Chief Executive of ITV said:
'This is the fourth disposal of non-core assets in the last four months and has
been achieved at a good price and ahead of time. We have made very significant
progress on restructuring our balance sheet, reducing debt, delivering the
benefits of the merger and driving shareholder value.'
ITV Tel: 020 7620 1620
James Tibbitts - Director of IR and Company Secretary
Brigitte Trafford - Communications Director
Citigate Dewe Rogerson Tel: 020 7638 9571
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