ITV Enters £100 Million Deal to Acquire UTV’s Television Business

LONDON: ITV has agreed to acquire 100 percent of UTV, which owns the television assets of UTV Media, for £100 million ($155 million).

When the acquisition is complete, ITV will own 13 of the 15 regional licenses for the Channel 3 network; the combined business will benefit from ITV’s continued investment in content, its advertising sales team and broadcast infrastructure. UTV is the market-leading commercial broadcaster and the most-watched channel in Northern Ireland. It airs ITV content alongside local programming. UTV also owns UTV Ireland, which launched a new dedicated channel for the Republic of Ireland on January 1.

“We have a long-standing relationship with UTV, which has been the leading commercial broadcaster in Northern Ireland for many years thanks to its strong regional identity and blend of excellent local programming and strong network shows,” said ITV's chief executive, Adam Crozier. “UTV Television’s strategic objectives are closely aligned with our own and we are very pleased that they are joining the ITV family. We are looking forward to working with the team going forward.”

John McCann, the group chief executive of UTV Media, said: "The market-leading success of our television business has been built over many years on the well-established formula of high-quality local programming packaged around an attractive network schedule. Becoming part of the ITV family is by far the best way to take UTV’s Television business forward with an ongoing focus to provide brilliant television to viewers right across Ireland."