UTV Media PLC Trading Statement

 
TIDMUTV 
 
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 
GBP100m (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 GBP13m. 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 
 
 
 
END

(END) Dow Jones Newswires

November 06, 2015 02:00 ET (07:00 GMT)

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