ITV, Clear Channel bid on cinema ad biz

Pearl & Dean put up for sale by SMG

LONDON — Clear Channel and Blighty terrestrial broadcaster ITV are among some 40 firms understood to be bidding for Pearl & Dean, the U.K. cinema ad biz put up for sale by SMG, which owns two Scottish TV licenses.

Pearl & Dean is reportedly valued at up to $108 million.

ITV owns Carlton Screen Advertising, which controls 75% of the U.K. cinema advertising market. Pearl & Dean has the remaining 25%, so a successful ITV bid would likely be referred to competition regulators.

An ITV spokeswoman declined to comment.

In other ITV news, regulators have refused the web’s request to cut tyke fare from the afternoon schedule of flagship web ITV1.

The network wants to air ratings-friendly entertainment to compete with commercial rivals, especially pubcaster hybrid Channel 4, which has no obligation to air kid fare.

But communications regulator Ofcom refused to allow ITV to shift kids’ shows to its children’s web CITV.

ITV recently trimmed tyke shows on ITV1 from 90 minutes a day to an hour.

Kidvid makers, already furious at ITV’s decision to close its children’s production arm, will welcome Ofcom’s decision.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety

Loading