United Business Media to sell shares in Five
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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Friday 17 February 2012
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