ITV acquires Channel Television
October 18, 2011
ITV is to buy Channel Television, the Channel Islands commercial TV broadcaster, in a further consolidation of the network.
The broadcaster is in negotiations to buy Channel TV from the private Yattendon Group. The value of the deal was not disclosed, but it is reported to be worth more than £10 million (€11.5m).
Channel Television makes about £5 million per year in revenue and employs 78 staff in offices in London and the Channel Islands. The company, the smallest ITV franchise, handles more than 85 per cent of compliance of all TV programmes made by independent production companies that air on ITV channels.
If Jersey competition authorities approve the takeover, it will give ITV plc 12 of the UK’s 15 channel 3 franchises.
Channel TV has been on air since 1962 and broadcasts to a population of about 150,000 in the Channel Islands.