TV3 co-owner sells stake in UTV

ONE of the co-owners of TV3 has offloaded its entire stake in rival broadcaster Ulster Television.

Fri, 02 Jul, 2004 - 01:00
Ian Guider

CanWest Global, which has a 45% stake in TV3, sold its entire 29% holding in UTV yesterday to institutional investors in London, netting around €88 million.

CanWest made a tidy profit on the sale. Since it bought into the Belfast- based UTV in 1997 it has received £20 million in dividends.

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CourtsPlace: LondonPlace: BelfastPlace: DublinPlace: CorkPlace: BritainPerson: Leonard AsperPerson: Rick HetheringtonOrganisation: TV3Organisation: Ulster TelevisionOrganisation: CanWest GlobalOrganisation: UTVOrganisation: CanWestOrganisation: London Stock ExchangeOrganisation: ITV plcOrganisation: ITVOrganisation: GranadaOrganisation: Carlton CommunicationsOrganisation: Scottish Media GroupOrganisation: SMG
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