07 April 2008
7 April 2008
ITV SELLS STAKE IN ARSENAL BROADBAND
ITV plc today announced it has completed the sale of its 50% share in Arsenal
Broadband Limited to KSE UK, Inc, a vehicle controlled by Stan Kroenke, for a
total consideration of £22.7m.
The total received by ITV from KSE for its interests in Arsenal is £65m.
The sale of this stake brings to a conclusion ITV plc's football asset disposal
programme. Since February 2007 ITV plc has also successfully completed the sale
of its shareholding in Liverpool Football Club and Athletic Grounds Plc for
£17.4m; the sale of its stake in MUTV for £3.3m; and the sale of its stake in
Liverpoolfc.tv for £15.75m.
ITV plc has now raised over £620m through the disposal of non-core assets since
the merger of Granada and Carlton in 2004.
Tom Betts, Commercial and Acquisitions Director, ITV plc, said:
'This completes the sale of our football assets which has seen us successfully
raise £101 million from those football assets in just over a year.
We would like to wish Arsenal.com and KSE UK, Inc the very best for the future.'
For further enquiries please contact:
Tel: 0844 8818000
Pippa Strong - Head of Investor Relations
Tel: 0207 353 4200
Website: www.itv.com; investor information: www.itvplc.com
This information is provided by RNS
The company news service from the London Stock Exchange