Following last month’s unexpected news that LWT was to take a 14% stake in Yorkshire Tyne Tees Television, it was announced yesterday that north-west contractor Granada has bought 15% of London Weekend TV, valued at £68m.
Granada is clearly paving the way for future acquisitions should heritage secretary, Peter Brooke, agree to relax the broadcasting laws allowing ITV companies to take over one another (Newsline 27/5).
The losers from yesterday’s events are Carlton TV who were understood to have an interest in buying a stake in LWT. Predictions are that Central will now attempt to buy a stake in Anglia TV, having made no secret of its interest in the Norwich – based television company.
Shares in the ITV companies had mixed reactions to yesterday’s news with Carlton falling 13p to 770p and Anglia 36 to 353p. Central TV gained 107p to 2065p and Yorkshire up 14 to 199p. Shares in Granada were down by 3p to 417p, but LWT jumped by 91p to 466p.
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