Daily Mail and General Trust has today completed arrangements for the purchase of a 20% shareholding in ITN through its Harmsworth Broadcasting division. Carlton and Granada have both sold DMGT 10% stakes for £10.2 million apiece, placing an overall value on ITN at £102.5 million. Both broadcasters had to reduce their shareholdings under the terms of the Broadcasting Act which limits interests in ITN to 20%.
Sir David English, Chairman of Harmsworth Broadcasting, and who will represent DMGT on the board of ITN, said: “I am delighted to announce our purchase of this shareholding in ITN. News is our business and we look forward to developing a valuable partnership with ITN and its shareholders.”
DMGT: 0171 938 6115
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