Canadian television company CanWest Global Communications has announced that its subsidiary CanWest International has increased its stake in Ulster TV by 2.7 per cent to 7.4 per cent. CanWest International says that it may increase its stake further in the future. Although CanWest cannot take control of Ulster TV outright due to UK ownership legislation, they did not rule out gaining a stake in an acquiring consortium should one emerge.
CanWest also has a 45% stake in the Republic of Ireland’s new TV3 network and see the acquisition of further Ulster TV shares as a “natural extension of their Irish strategy.”
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