SelecTV has announced preliminary results for the year ending 31 March 1995. The financial results show a pre tax profit of £1.32m compared with £926,000 in 1994. Profits for this year were boosted by the London cable station Channel 1.
SelecTV announced that if UKTV is awarded the Channel 5 licence, it will subscribe to 20% of UKTV’s equity. The maximum amount SelecTV is prepared to commit towards Channel 5 is £22m; if C5 needs more than this, SelecTV will allow its share in the venture to be diluted.
SelecTV’s own cable channel launched on June 1 1995.
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