Granada Media Begins European Expansion With Stake In TV3

Granada Media has made its first steps into the European market with the acquisition of a 45% stake in Ireland’s TV3 channel. The group, which promised to focus on markets outside of Britain when it became the main controller of the ITV network in July (see Future Of ITV Laid Out As Granada Seals Deal), paid £18.7m for a stake in the station.

The Republic of Ireland’s only independent commercial free-to-air television channel, TV3 was launched in 1998. The deal will see Granada form a consortium with Canada’s CanWest Global Communications Corp, which owns a further 45% stake in the channel, and the channel’s founders.

It has also signed a deal to sell its major programme brands to the channel; Coronation Street, Ireland’s top-rated programme, will move from RTE, the national state broadcaster, to TV3 in January 2001.

Prime programme sponsorship for the channel will be integrated within Granada Enterprises, the commercial arm of Granada Media.

Charles Allen, chairman of Granada Media, said: “Today’s deal with TV3 is a significant first step in our European development programme and immediately positions Granada Media as a vertically integrated broadcaster in one of Europe’s most dynamic economies.”

Granada Media: 020 7620 1620