Granada Media Consolidates Ownership Of Meridian And Sells HTV To Carlton

As predicted, Granada and Carlton have today agreed terms for the sale of their respective interests in the HTV and Meridian franchises. Carlton will purchase the licence and broadcasting interests of HTV, the ITV broadcaster for Wales and the West of England, from Granada for £181m in cash.

As part of the deal, they will transfer to Granada their 20% stake in Meridian, bringing Granada’s ownership of the franchise to 99.92%. Carlton will pay a further £4.5m for the cash and net assets of HTV bringing the total value of the deal to £185.5m.

Charles Allen, chairman of Granada Media said, “This is a good deal for our shareholders and secures a balanced and stable future for ITV which will allow it to grow and compete effectively in the digital age.”

Following the purchase of United News & Media’s television assets in July, Granada was required to sell off at least one of its franchises due to viewing and advertising restrictions (see Feature: Northern Star Rises Across ITV Network). Granada’s ITV franchises now account for around 14.4% of all UK television viewing, just below the legislative 15% viewing share restriction, Carlton’s share will rise to just over 10%.

Granada Media 020 7451 3000 Carlton 020 7663 6431