UTV Media has this week confirmed that it will be selling its television assets to ITV for £100 million.
The news came in a statement to the stock exchange, where the company also revealed that the sale would include UTV Ireland which was launched in January.
The company will retain its radio properties to include FM 104, Q102 and Galway Bay FM.
“Having successfully extended the reach of our television business with the launch of UTV Ireland, I believe that shareholder value can be maximised through our television interests becoming part of ITV’s global broadcast and content business,” said chairman of UTV, Richard Huntingford.
