02 August 2007
2nd August 2007
ITV sells shares in ITFC
The ITV1 regional licence holders have today announced the sale of their shares
in Independent Television Facilities Centre Limited ('ITFC' or the 'Company') to
Elektrofilm Ltd., a wholly owned subsidiary of Medici Group, LLC.
The consideration payable at completion is £8.1 million in cash. ITV plc's
share of these proceeds will be £7.4 million. As part of the transaction ITFC
has entered into a long-term services agreement to provide the ITV regional
licence holders with the continuation of video post-production, subtitling, and
audio description services that have to date been supplied by ITFC.
The sale represents a further example of ITV's successful disposal programme of
non-core assets which is now approaching £600 million since the merger creating
ITV plc in 2004.
For further enquiries please contact:
Tel: 0844 881 8000
Brigitte Trafford - Group Communications Director
Jim Godfrey - Director of Corporate Affairs
James Tibbitts - Company Secretary
Georgina Blackburn - Head of Investor Relations
ITV plc owns 11 out of the 15 ITV1 regional licences and 91.5% of the issued
share capital of ITFC. ITV is Britain's biggest and most popular commercial
broadcaster. ITV's flagship channel - ITV1 - is the home of the most popular
drama and entertainment programmes on British television and ITV2, 3 and 4 are
among the most popular channels on multi-channel television.
This information is provided by RNS
The company news service from the London Stock Exchange