Commercial broadcaster ITV has disposed of Carlton Books for an undisclosed sum as part of its £600 million programme to sell-off non-core assets.
The sale of the non-fiction book publisher, which was a management buy-out, is expected to be the first of many and will be followed by the sale of the Moving Picture Company, which is reported be next to go under the hammer next.
In total, ITV has earmarked £600 million worth of non-core businesses to sell off, including the jewel in the crown – its 5% share in French multimedia company, Thomson SA (see Sale Of ITV Businesses To Raise £600 Million).
According to reports, the money raised from the disposals could be paid to ITV’s disgruntled shareholders as a special dividend. Since the Carlton and Granada merger in February, the companies shares have under-performed the FTSE All-Share by about 20%.
Other assets to be put on the block include, Carlton Screen Advertising, which sells adverts shown at cinemas, to stakes in top Premier League football teams Arsenal and Liverpool.
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