ITV eyes TV3 bid

World Brief

The U.K.’s biggest private terrestrial broadcaster, ITV, is poised to take a controlling stake in TV3, the Irish commercial TV station, according to local reports.

ITV already owns 45% of TV3, Ireland’s only commercial TV station, but reportedly is eyeing a bid for the 45% stake held by Canada’s CanWest.

ITV is believed to have first refusal on CanWest’s stake, according to a report in the Irish Times.

But ITV may face competition for the stock from Irish sports pay box Setenta or from Ulster TV, which broadcasts in Northern Ireland.

CanWest is selling its TV3 stake, though to be worth around $120 million, in order to reduce debts.

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: Logo

You are commenting using your 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 Scene News from Variety