Merger talks between London Weekend Television and Yorkshire Tyne-Tees Television have collapsed. LWT was hoping for a link-up with YTTV in order to escape the hostile takeover bid by Granada.
In a brief statement issued today, LWT said it was unable to reach a deal which could comply with the ITV ownership rules whereby a company can own only two franchises. LWT was planning to sell Tyne-Tees to Anglia TV, but Anglia is reported to have refused.
Granada’s shares have risen 11p this morning to 550p, now that the hostile bid seems more likely to succeed.
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