ITN faces sale if investment drive fails

LONDON - ITV-owned news division ITN risks being sold if new investors cannot be found as it looks to grow internationally and expand its video library of news footage.

The company, which provides ITV's 'News at Ten' and the 'Channel 4 News', is thought to be looking at international growth and the expansion of its consultancy division as opposed to UK-based commercial growth.

According to reports in The Times the business is being prepared for sale despite ITV's unwillingness to reduce or sell its majority 40% stake.

Profits were down from £7.2m to £5m before tax in 2006 while the business’s pension fund deficit of £25.9m is said to be the biggest hindrance to a sale.

Market Reports

Get unprecedented new-business intelligence with access to ±±¾©Èü³µpk10’s new Market Reports.

Find out more

Enjoying ±±¾©Èü³µpk10’s content?

 Get unlimited access to ±±¾©Èü³µpk10’s premium content for your whole company with a corporate licence.

Upgrade access

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an alert now

Partner content