Granada, which last week announced plans to merge with fellow ITV powerhouse, Carlton (see Carlton And Granada Enter Advanced Merger Talks) has indicated its intention to take full control of Ireland’s TV3, according to a report in today’s Independent.
The Irish commercial broadcaster is part-owned by Granada, CanWest Global Communications and a group of investors linked to rock band U2. Granada would double its stake to 90% if it bought the £31 million share held by CanWest.
A successful takeover would be seen as a precursor to a move on the ITV franchises which fall outside the Carlton-Granada umbrella. Both companies are believed to have held talks with SMG which owns the Grampian and Scottish ITV franchises. However no deal was reached and the media group has since put its less valuable newspaper business up for sale (see SMG To Sell Publishing And Online Business).
Ulster and Channel are the only other two franchises which would not form part of a Carlton-Granada tie-up. Further details of the proposed merger are expected within the next week. Granada shares were up 3p at 73p at 1pm today.
