Thames Seeks Backing From Pearson

Channel 5 Holdings has been given until December 4 to show the ITC that it has managed to raise 70% of the financial backing necessary to fund the station. On that note Thames Television has approached the Pearson Group to take up a 20% stake in the venture.

Thorn EMI is offering to take a 30% stake, valued at £100m but Pearsons, publisher of the Financial Times, has yet to decide whether to commit to a deal.