Channel 5 Broadcasting has this afternoon received a major cash injection through a City bank syndicate.
HSBC Banking Corporation has arranged a £150 million financial package which will be used “for future developments”. 5 says that the practical effect will be to “limit Channel 5’s shareholders exposure and increase the return on their investment.”
David Elstein, chief executive of Channel 5, commented: “The banks’ impressive support for the business is extremely gratifying.”
C5’s shareholders are United News & Media (29%), CLT Ufa (29%), Pearson (24%) and Warburg (18%).
Channel 5: 0171 550 5555
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