Time Warner, the US Media Group, announced yesterday that it has withdrawn from the bidding for Channel 5. The group was a partner in the bidding consortium which includes MAI and Pearson.
Farrell Meisel, senior vice-president of Time Warner Broadcasting UK, said a “number of uncertainties on the technical side” had resulted in his decision to drop out of the project.
However, Pearson has said that the group was undismayed by the development, and that there were plenty of other willing partners, for example Associated Newspapers.
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