Channel Five owner 'eyes ITV'


Channel Five owner 'eyes ITV'
Europe's largest broadcasting company, which owns Britain's Channel Five, is considering a £5 billion offer for commercial television firm ITV, a report claimed today.

RTL plans to use private equity backers to finance the takeover deal, the Financial Times says.

The Bertelsmann-owned group operates 34 television and 33 radio stations across 11 countries on the continent.

Earlier this week RTL's chief executive officer Gerhard Zeiler said he was not in talks with ITV, but refused to rule a future approach out.

ITV, currently without a chief executive following the departure of Charles Allen, is still waiting on a bid from cable firm NTL.

NTL said earlier this month that it had "scheduled an initial conversation with ITV", but no formal offer has been submitted.

The US-owned firm merged with Telewest in March and plans to rename itself under the Virgin brand next year following the £960 million acquisition of Virgin Mobile, but is lumbered with debts of £5.4 billion, which could represent a major stumbling block to any prospective deal.

Today's Financial Times article states that RTL would be forced to sell Five to complete its acquisition of ITV.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure