Published Date:
21 July 2005
PUBLISHING group United Business Media has agreed to sell its 35 per cent share in TV channel Five for £247.6 million, handing the full value of the TV station to European giant RTL.
Five generated £288.8m in revenues and £19.5m of operating profits in its last financial year, and is now valued at £700m.
Analysts said the channel had done relatively well so far on a tight budget, and under RTL could expect a step-change in programme investment over the next few years.
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Last Updated:
20 July 2005 8:50 PM
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Source:
The Scotsman
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Location:
Edinburgh
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Related Topics:
Channel Five
