United Business Media (UMB)looks likely to sell its 35% share in Five, after reports this morning over a buyout deal from European broadcaster, RTL.
In May, the
Sunday Express claimed that UBM was preparing to offload its 35% stake in Five, with 65% stakeholder, RTL, in line to purchase the remaining share for £250 million.
Rumours of a possible sale by UBM first surfaced in March, with speculative reports claiming that the company would offload its stake in Five before the departure of then chief executive Lord Hollick (see United Business Media Announces New Chief Executive).
March also saw Five announce that it had doubled its profits to £18 million in the 12 months to December 2004, due mainly to a strong growth in the advertising market, although the broadcaster was also buoyed by strong ratings from American film imports and drama series.
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