ITV To Keep Carlton Film Assets Following Merger

The merged ITV is to retain control of the two film businesses owned by Carlton Communications, according to press reports today.

The Financial Times claims that Granada and Carlton have agreed to keep the latter’s cinema advertising business and its interests in Thomson Multimedia when their £4.2 billion merger is complete.

Carlton Screen Advertising sells cinema advertising in the UK, US and continental Europe. Last year it generated sales of £60.1 million, 6% of Carlton’s overall turnover, and there are synergies with the TV sales units that the merged company is being allowed to keep.

ITV plc will also hold onto Carlton’s 15.5 million Thomson shares, which is 5.5% of the equity, valued at £400 million. The broadcaster acquired the stake after selling its Technicolour film processing business to the French group in 2001.

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