Disposal

Television Corporation PLC
04 March 2003

4 March 2003

                         The Television Corporation Plc

                              Disposal of Pacifica


The Television Corporation plc (the 'Group'), the leading television content
producer, today announces the completion of the disposal of the principal assets
and lease liabilities of Pacifica Media Affiliates Inc ('Pacifica'), the
Californian audio post-production business which is 75% owned by the Group, to
Technicolor Creative Services USA Inc, a wholly-owned subsidiary of Thomson
Multimedia SA, for $3.6m (£2.3m). The consideration will be paid in three
instalments with $2.0m (£1.3m) being payable immediately and a further $1m and
$0.6m being due on 28 February 2004 and 2005 respectively. Pacifica liabilities
retained by the Group, net of trade debtors, will be approximately $1m (£0.6m).
The proceeds of the disposal will be used in part to settle these existing and
contingent liabilities of Pacifica and certain costs of the disposal, with the
remaining proceeds being used to reduce the Group's debt.

In the year to 31 December 2002, Pacifica produced revenues of $15.1m (£9.4m)
and incurred a trading loss of $3.4m (£2.1m).  The net assets of Pacifica
assumed by Technicolor were approximately $3.7m (£2.3m), although the Group had
fully written off its investment in Pacifica at the half-year.  The effect of
this disposal will be to reverse a proportion of this write-off.

The sale of Pacifica demonstrates the Group's continuing commitment to focus on
the key profitable areas of content creation, production and distribution.

Jeff Foulser, Chief Executive, commented,

'I am pleased that we have now completed the sale of this loss-making business.
Management will now be able to concentrate fully on the core areas of our
business, and we look forward to consolidating The Television Corporation's
position as one of the UK's major players in the creation of high-quality
programming.'


For further information contact:

Jeff Foulser, Chief Executive, The Television Corporation plc    020 7478 7400
Kirsty Black, Mantra PR                                          020 7072 2315


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