Channel 5 for sale?
January 2, 2014
The move follows Desmond taking “soundings” among rivals, including ITV, about the potential appetite to buy Channel 5 last spring.
Desmond added Channel 5 to his Northern & Shell media empire, which includes the Express and Star national newspapers, in 2010 buying it from RTL for £103.5 million (€121m).
Heavy cost-cutting, rejuvenating Channel 5’s TV ad sales operation, and securing Big Brother have moved the business from a £48 million loss at the time of the acquisition to a £20.6 million profit in the six months to the end of August last year. This could potentially give the channel a worth of £500 – 700 million.