UTV in talks to sell TV assets

UTV in talks to sell TV assets

TV broadcaster UTV has confirmed it is in talks about selling its television assets.

The company, which is due to report its financial results later this week, has the ITV franchise in the region and is reported to be in discussions to sell the channel to ITV.

UTV has already warned that losses at UTV Ireland for the year are set to be higher than expected as it now predicts that the shortfall will be £11.5m (€15.8m).

Its share price rose by 10% this morning.

The company also owns a series of radio stations in Ireland and Great Britain, including TalkSport.

A UTV statement said: “The board of UTV Media plc notes the recent media speculation and confirms that it is in discussions regarding a potential sale of its television assets.

“Discussions are ongoing and may or may not result in such a transaction being agreed.

“A further announcement will be made when appropriate.”

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