Commercial broadcaster, ITV, has announced the disposal of its prop hire business, Superhire Limited to Space Holdings Limited for a cash consideration of £8.2 million.
The funds raised from the sale will be used to reduce ITV’s borrowings and represents a further stage in it’s disposal programme of non-core assets.
ITV has now raised more than £268 million from the sale of non-core businesses and assets in the last 6 months. ITV’s ownership of Superhire originates from Carlton’s acquisition of the business in 1984.
Last year saw ITV sell its stake in French multimedia group, Thomson SA, to Citigroup Global Markets and UBS Limited.
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