Irish duo invest €9m in UTV Media

IRISH financiers Neill Hughes and Peter Crowley have bought 6.3 million shares in UTV Media, giving them a 6.57% stake in the Belfast-based broadcasting company worth around £7.3 million (€9.18m).

The duo bought the stake via their investment vehicle, Organo Investments, which is understood to have been established with the specific focus of investing in UTV.

Organo, which paid £1.16 for each share, made no comment on whether or not it planned to invest further in the company, but called it “a good investment opportunity”.