Northern Ireland broadcaster UTV is all set to rid its television division to ITV for a whooping mullti-million pound deal.UTV’s television division, which runs the Channel 3 public service broadcast licence for Northern Ireland had reported operating profits of Ł6.5 mn in the year to the end of December 2014, on sales of Ł41.5 mn.
The channel is a market leader in the province, with a 24.7 per cent share of the peak time Northern Ireland audience in 2014. That’s significantly higher than the ITV network average of 21.3 per cent and more than four times greater than its closest commercial competitor, C4, according to the company.
UTV Media which is one of the three listed companies in Northern Ireland said in a statement on Monday that it was in “discussions regarding a potential sale of its television assets”, following reports on Sunday that the London Stock Exchange was due to confirm the sale this week to ITV.
In January, UTV had launched a new television channel, UTV Ireland, although it is unclear whether this will be included in any deal. In June, the group said that poor viewing figures meant the new TV station would make a Ł11.5 mn loss for the full year. The FTSE 100 Company is rapidly acquiring global TV producers to reduce its dependence on the UK broadcasting advertising market. In June, ITV acquired Twofour Group, the independent producer behind programmes including Educating Yorkshire, for Ł55 mn upfront, rising to as much as Ł280 mn, if profit targets are met. In the same month, the broadcaster snapped up Mammoth Screen, the maker of the BBC’s recent Poldark adaptation. In March, it acquired Talpa Media, the makers of The Voice, for Ł355 mn.UTV, which was launched in Belfast in 1959, posted larger losses than expected from its new Irish television channel UTV Ireland in June as audience growth stalled.
UTV’s television division, which includes shows like UTV Live and Lesser Spotted Ulster, accounted for 36 per cent of its revenue last year. The company, which is due to report its first half results on 28 August, also owns a series of radio stations in Ireland and Great Britain, including TalkSport.