The Investment group MAI has made a £292m takeover offer for Anglia TV, valuing each Anglia share at not less than 637p. Anglia has recommended the offer to shareholders.
MAI, which is owned by Lord Hollick, chairman of Meridian TV, owns 65% of Meridian. MAI and Anglia state in the joint announcement that both share a commitment to strong news and regional features, recognising that they are “natural partners”. Together Meridian and Anglia had around 18% of ITV net advertising revenue in 1993. MAI and Anglia state that they intend to work together in creating new TV programmes, and will cooperate in areas such as production and transmission.
James McKinnon, Chairman of MAI, commented, “We believe that Meridian and Anglia have excellent long-term prospects and together will provide a strong base for the development of MAI’s broadcasting business.”
Peter Gibbings, Chairman of Anglia, said, “We believe that the two companies together will be a strong force in television and we recommend shareholders to accept the Offer.”
Anglia 071 321 0101.
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