Media

UTV confirms talks over potential sale of TV business

Firm responds to speculation in recent days that it will sell TV assets to ITV

Pat Kenny at the launch of UTV Ireland at the Marker Hotel in Dublin. The station has struggled to grow its audience. Photograph: Cyril Byrne/The Irish Times
Pat Kenny at the launch of UTV Ireland at the Marker Hotel in Dublin. The station has struggled to grow its audience. Photograph: Cyril Byrne/The Irish Times
Ciara O'Brien
Mon Aug 24 2015 - 07:38

UTV has confirmed it is in discussions to sell its television assets.

The company was responding to media speculation in recent days that it was planning on selling the TV business to ITV.

In a short statement, the company said it “notes the recent media speculation and confirms that it is in discussions regarding a potential sale of its television assets”.

However, the transaction is not yet a done deal, and the company said it would make a further announcement when appropriate.

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UTV said in June that its Irish TV venture, UTV Ireland, would make larger losses than previously expected as audience growth stalled. The company, which is due to report results this week, revised its figures from a loss of £8.5 million in 2015 to a predicted shortfall of £11.5 million.

The news of a possible sale comes only weeks after rumours of board-level debates about the future of UTV Ireland.

Ciara O'Brien

Ciara O'Brien

Ciara O'Brien is an Irish Times business and technology journalist