Granada is understood to have expressed an interest in buying Mirror Group’s television interest, Live TV. According to industry rumours, Granada is proposing to replace Live TV with its own transactional channel, Shop! (see Newsline).
Towards the end of April, pay-TV programme provider, Flextech, also registered an interest in Live TV (see Newsline). The station is an attractive target for broadcasters, especially those with a interest in interactive services, due to its distribution deals with the three major cable companies.
Live TV is valued at around £8 million, and is guaranteed access to all 2.5 million cable homes until June 2005. Earlier this year, Granada acquired Mirror Group’s 18.6% share in the Scottish Media Group (see Newsline).
Both Granada and Live TV declined to comment when contacted by Newsline and no one at Mirror Group was available at the time of writing. Granada releases its interim financial results next Wednesday.
Granada: 0171 620 1620
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