Thu, 02 Jan 2014 | BUSINESS SALE
Media entrepreneur Richard Desmond is looking into a possible sale of Channel 5, and has asked advisers to assist him.
Two sources close to the situation said Barclays is advising on options for the TV broadcaster, to include a sale of the business early this year.
Mr Desmond bought the TV channel for £103.5 million in 2010 and will seek to win an amount exceeding £700 million for a sale in 2014.
Under Mr Desmond’s ownership Channel 5 has returned to profit after posting a £16.1 million loss in 2012, making operating profits of £20.6 million in the first half of 2013. Bringing in well-loved programmes such as Big Brother and replacing some key executives seems to have done the trick to turn around its fortunes. Viewing figures have remained steady, however.
A sale is looking more optimistic with television channels being boosted by a return of advertising revenues after the financial downturn. The channel is one of few free-to-air broadcasters in Europe, so is expected to be highly attractive to buyers.
Potential buyers for the channel are tipped to include ITV, with its chief executive Adam Crozier saying he is interested in big purchases. While US network Turner Broadcasting has turned its attention to the European market.
ITV, one of Channel 5’s rivals, has been among the top performers in the FTSE 100 over recent years, with its shares rising tenfold since 2009.
___________________________________________________________________________
Related information:
Now is the time to buy a business
The company provides a streamlined, tech-supported process for homeowners and residential landlords to acquire new home services, including heating and other infrastructure. The business offers products from leading brands through an automated stock...
The company designs, manufactures, installs and maintains biomass heating systems for industrial premises throughout the UK. The business offers products with varying heating capabilities and capacities, ensuring that it can meet clients’ specificati...
A leading physiotherapy clinic in Loughborough, celebrating over 40 years of service. Known for its expertise in sports injuries and TMJ/migraine treatment.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.