The Television Corporation has announced the sale of its sports broadcasting arm Visions, to US producer of mobile production facilities large video screens and television studios, NEP for £16.8 million.
Over 2004 Visions has generated £14.4 million in revenues and £800,000 in profits from providing facilities for sports events, such as racing and cricket on Channel 4 and football to Five. the deal will enable Television Corp to focus on its core content and production business Sunset and Vine and Mentorn. The arrangement will be completed next month, subject to approval from its share holders, will allow Television Corp to cut its debts by £7.7 million.
The news comes just days after it was announced the cricket coverage will transfer at the start of the 2006 season to Sky from Channel 4.
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