Desmond sells adult TV business
April 1, 2016
Richard Desmond, owner of the Daily Express and Daily Star newspapers, has sold his adult TV business, including the Television X and Red Hot channels, severing his last link to the adult industry.
Holding company Northern & Shell, announced it had sold its adult broadcasting arm, Portland Television, in a management buyout worth six figures, 12 years after he sold his adult magazines.
Portland – a five-strong stable of two subscription channels, Television X and TV XXX, and three pay-per-night channels, including Viewers’ Wives and Red Hot – contributed less than 2 per cent of Northern & Shell’s group revenues over the last three years.
Chris Ratcliff, Portland TV’s current managing director, is the buyer.