Scottish Media has sold its 18% stake in Ulster TV to Canwest Global Communications for £23.9 million.
Scottish revealed that it had approached the Ulster board with an offer for a full takeover but when this was rejected it decided to sell its stake to the Canadian broadcaster.
Canwest now has a 29.9% stake in Ulster, the maximum a non-EU country can hold in a UK company.
Scottish Media Group: 0141 300 3000
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