Information  X 
Enter a valid email address

ITV PLC (ITV)

  Print      Mail a friend       Annual reports

Wednesday 23 August, 2006

ITV PLC

Sale of TV3

ITV PLC
23 August 2006

                                                                  23 August 2006



               ITV agrees sales of TV3 Television Network Limited



ITV plc announces that it has reached agreement, together with its
co-shareholders, for the sale of TV3 Television Network ('TV3') to Doughty
Hanson.  ITV holds its interest in TV3 as a 45% interest in CanWest Granada
Media Holdings Limited ('CGMH') which is the holding company for the Irish
commercial broadcaster TV3. The transaction is currently expected to be
completed on or about 31 August, 2006 and is subject to regulatory approval


ITV will receive cash consideration for its stake in CGMH of approximately £70
million, having elected not to take-up its pre-emption rights in respect of the
Irish Broadcaster. The sale represents a further example of ITV's successful
disposal programme of non-core assets which is now approaching £500 million
since the merger creating ITV plc in 2004.


ITV will continue to focus on its core UK broadcasting operation and growing its
revenues outside ITV1 advertising through developing its UK and international
production and distribution businesses and its consumer operations.  The cash
received will be used to fund the current programme of returning £500 million to
shareholders.



For further enquiries please contact:

ITV plc

Tel: 020 7843 8000

Press enquiries
Brigitte Trafford                      - Communications Director
Jim Godfrey                           - Head of Corporate Affairs

Investor enquiries
James Tibbitts                         - Company Secretary
Georgina Blackburn                 - Head of Investor Relations
Caroline Bailey                         - Investor Relations Analyst

Citigate Dewe Rogerson
Tel: 020 7638 9571
George Cazenove


Website: www.itv.com       investor information: www.itvplc.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange