06 March 2008
6 March 2008
Carlton Screen Advertising Ltd ('CSA')
ITV plc announces that its wholly-owned subsidiary, CSA, has entered into
binding heads of terms to sell certain business and assets to a new joint
venture vehicle formed between Cineworld Group plc ('Cineworld') and Odeon
Cinemas Ltd ('Odeon').
The heads of terms provide for consideration payable to CSA of £0.5m payable on
completion and are subject to conditions, including regulatory approvals and a
formal agreement being executed before 30 September 2008.
The terms of the existing sales contracts between CSA and Cineworld and Odeon
respectively are amended to provide for revenue sharing arrangements for a
period at least until 30 June 2008.
CSA is reviewing options for the remaining business and assets of the company.
For further enquiries please contact:
Tel: 0844 8818000
Jim Godfrey - Director of Corporate Affairs
Tel: 084488 18434
Pippa Strong - Head of Investor Relations
Tel: 084488 14767
Tulchan Communications Group
Tel: 020 7353 4200
This information is provided by RNS
The company news service from the London Stock Exchange