UTV MEDIA PLC - Trading Statement
November 06 2015 - 2:00AM
PR Newswire (US)
UTV MEDIA PLC
TRADING UPDATE
On 24 August 2015, and in response
to media speculation, the Board of UTV Media plc (UTV) confirmed
that it was in discussions regarding a potential sale of its
television assets. These discussions led to a further announcement
on 19 October 2015 that UTV had
entered into a conditional agreement to sell its television assets
to ITV Broadcasting Limited (ITV) for a cash consideration of £100m
(the “Disposal”).
The uncertainty created by the speculation around these
discussions and the time to completion of the agreement has had,
and is continuing to have, a negative impact upon trading within
our Irish television business. As a result, the Board anticipates
that losses for this business for the full year 2015 will be
approximately £13m. Trading within our Northern Irish television
business and our radio division is broadly in line with the board’s
expectations.
The Board expects the Class 1 shareholder circular in relation
to the Disposal to be sent to shareholders shortly.
6 November 2015
Enquiries
Orla
McKibbin, Director of Communications
Tel: +44 (0) 28 9026 2188
Copyright er 5 PR Newswire
Wireless Grp (LSE:WLG)
Historical Stock Chart
From May 2024 to Jun 2024
Wireless Grp (LSE:WLG)
Historical Stock Chart
From Jun 2023 to Jun 2024