U.K. Free-to-air Broadcaster Channel 5 May Be Floated on Stock Market (Report)

Seven potential buyers remain in the auction for broadcaster

LONDON — British media mogul Richard Desmond is mulling a stock market flotation for his free-to-air TV broadcaster Channel 5, according to a news report.

Desmond is working with investment bank Goldman Sachs on the possible IPO, according to Sky News, citing sources.

In January, Desmond hired Barclays to look for buyers for the television network. He was aiming to raise about £700 million ($1.16 billion) through the sale, according to media speculation.

Sky News said that the sale had drawn interest from more than 20 potential buyers, including Discovery Communications, Scripps Networks, Viacom and Rupert Murdoch’s BSkyB, the owner of Sky News. Seven parties remained in the auction last week, it said.

Channel 5, which broadcasts “CSI” and “Big Brother,” was bought by Desmond’s Northern & Shell in 2010 for £103.5 million ($172 million). Channel 5 made a profit of £20.6 million ($34.3 million) in the first half of 2013, up from a loss of £16.1 million ($26.8 million) a year earlier.

More TV

  • Chris MatthewsTime 100 Gala, New York,

    Female Staffer Who Accused Chris Matthews of Sexual Harassment Received Severance from NBC

    LONDON — British media mogul Richard Desmond is mulling a stock market flotation for his free-to-air TV broadcaster Channel 5, according to a news report. Desmond is working with investment bank Goldman Sachs on the possible IPO, according to Sky News, citing sources. In January, Desmond hired Barclays to look for buyers for the television […]

  • SATURDAY NIGHT LIVE -- Episode 1734

    'SNL': Alec Baldwin's Donald Trump Declares 'The War on Christmas Is Over' (Watch)

    LONDON — British media mogul Richard Desmond is mulling a stock market flotation for his free-to-air TV broadcaster Channel 5, according to a news report. Desmond is working with investment bank Goldman Sachs on the possible IPO, according to Sky News, citing sources. In January, Desmond hired Barclays to look for buyers for the television […]

  • HBO Documentary President Sheila Nevins Stepping

    HBO Documentary President Sheila Nevins Stepping Down

    LONDON — British media mogul Richard Desmond is mulling a stock market flotation for his free-to-air TV broadcaster Channel 5, according to a news report. Desmond is working with investment bank Goldman Sachs on the possible IPO, according to Sky News, citing sources. In January, Desmond hired Barclays to look for buyers for the television […]

  • Disney-Fox Deal Sets Up Scramble for

    Disney-Fox Deal Unleashes Flood of Free-Agent Executives, Talent

    LONDON — British media mogul Richard Desmond is mulling a stock market flotation for his free-to-air TV broadcaster Channel 5, according to a news report. Desmond is working with investment bank Goldman Sachs on the possible IPO, according to Sky News, citing sources. In January, Desmond hired Barclays to look for buyers for the television […]

  • Morgan Spurlock Sexual Misconduct

    Morgan Spurlock's TNT Series 'Who Rules the World' Halts Production

    LONDON — British media mogul Richard Desmond is mulling a stock market flotation for his free-to-air TV broadcaster Channel 5, according to a news report. Desmond is working with investment bank Goldman Sachs on the possible IPO, according to Sky News, citing sources. In January, Desmond hired Barclays to look for buyers for the television […]

  • George Clooney Matt Charman

    Watergate Series in the Works at Netflix From George Clooney, Matt Charman

    LONDON — British media mogul Richard Desmond is mulling a stock market flotation for his free-to-air TV broadcaster Channel 5, according to a news report. Desmond is working with investment bank Goldman Sachs on the possible IPO, according to Sky News, citing sources. In January, Desmond hired Barclays to look for buyers for the television […]

More From Our Brands

Access exclusive content