The ITC have revealed that they would re-advertise the Channel 5 licence within months if a bidder with the necessary financial backing were to come forward. The reconsideration of a refinanced C5 Holdings bid has not been ruled out according to Sir George Russell, Chairman of the ITC.
Time Warner, a partner in the Thames led C5 Holdings consortium, are waiting on main board approval to increase their investment from 10% to 35%.
Other possible investors include: US media companies Capital Cities/ABC and Cox (an investor in UK Gold), along FT owner Pearson.
ITC 071 584 7011
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