TVC considers its 18% UTV share

Investment firm TVC Holdings has said that it will consider all options regarding its 18% shareholding in UTV Media.

The Dublin company’s representation on the UTV board was eradicated earlier this year, after John McGuckian — a non-executive director at TVC — was ousted as chairman of the Belfast-based broadcasting group due to a perceived conflict of interests. In the aftermath of that move, Shane Reihill — TVC’s executive chairman — resigned as a non-executive director of UTV.

Since profiting from the sale of Dublin technology company, Norkom last year — in which it had a 27% stake — TVC’s main investment asset has been its stake in UTV. Its long-term aim is to dispose of a number of its non-core investments and build up a portfolio of around four high-profile investments. However, current market conditions have dictated that no movement, on that front, has been made.