Channel 5 Likely Say ITC

The ITC has issued a statement today confirming that they intend to re- advertise the licence for Channel 5. However, the ITC first needs assurance from the Government that the necessary frequencies will remain available; ie that C5 is not incompatible with the longer term strategy for digital television. Work is also continuing on the transmission plan for C5, which is seeking alternative frequencies so that domestic video recorders will not need to be altered.

TELEVISION TAKEOVER LATEST

• City analysts are predicting that the Granada bid will be successful despite the fierce resistance from LWT. The fate of LWT will be decided by a few City institutions, especially Mercury Asset Management, which owns 15% of LWT and 16% of Granada. It is expected that MAM will approve the offer.

• Michael Heseltine has cleared MAI’s bid for Anglia Television; the bid will not now have to be referred to the MMC after undertakings given by MAI, which are the same as those given by Carlton and Granada; that MAI will not sell more than 25% of the total television advertising market.