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

  • Netflix_Made_in_Mexico_Kitzia

    Netflix Launching First Mexican Reality Series

    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 […]

  • National Treasure

    Channel 4, Hulu Head Into 'The Light' With Jack Thorne

    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 […]

  • The Innocents Review

    Review: Netflix's 'The Innocents'

    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 […]

  • Charter Taps Cater Lee to Oversee

    Charter Taps Cater Lee to Oversee Southern California Local News Network

    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 […]

  • Asia Argento Report Casts Shadow Over

    Asia Argento Report Casts Shadow Over 'X Factor Italy' Participation

    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 […]

  • Jack Ryan

    TV Review: 'Tom Clancy's Jack Ryan' Starring John Krasinski

    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