You will be redirected back to your article in seconds

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

  • TV News Roundup: 'Knightfall' Grows by

    TV News Roundup: 'Knightfall' Premiere Grows by 71 Percent in Delayed Viewing

    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 […]

  • Tax Plan Strikes Fear Among Below

    Hollywood's Below-the-Line Workers Anxious About New Tax Plans

    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 […]

  • Steve Edwards Good Day LA

    Veteran Anchor Steve Edwards Out at 'Good Day L.A.'

    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 […]

  • Rupert Murdoch Bob Iger Disney Fox

    Disney Nearing Finish Line With 21st Century Fox as Comcast Bows Out of Acquisition Hunt

    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 […]

  • Kenya Barris Alec Baldwin

    ABC Gives Straight-to-Series Order to Comedy From Kenya Barris, Alec Baldwin, Julie Bean

    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 […]

  • Golden Globe Nominations: Good News and

    Golden Globes Nominations: At Least It Was a Good Year for Strong Female Roles

    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