05 April 2007
ITV plc announces sale of interests in Arsenal
ITV plc today announced that it had unconditionally sold its 9.99% shareholding
interest in Arsenal Holdings plc to KSE UK INC, a vehicle controlled by Stan
Kroenke, and has also entered into conditional arrangements with KSE UK INC in
relation to the sale of its 50% shareholding in Arsenal Broadband Limited.
The combined consideration for the two transactions, if completed, is £65
million. The sale represents a further example of ITV's successful disposal
programme of non-core assets, which has raised over £500m since the merger
creating ITV plc in 2004.
Stan Kroenke is the co-owner of the St Louis Rams NFL team and owner of the
Denver Nuggets in the NBA, the Colorado Avalanche in the NHL and the Colorado
Rapids MLS franchise, which in February announced a commercial and marketing
agreement with Arsenal.
For further enquiries please contact:
Tel: 020 7843 8000
Brigitte Trafford - Group Communications Director
Jim Godfrey - Director of Corporate Affairs
James Tibbitts - Company Secretary
Georgina Blackburn - Head of Investor Relations
Citigate Dewe Rogerson:
Tel: 020 7638 9571
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