ITV plc has reached agreement with Shamrock Capital Growth Fund II, a leading, US-based private equity fund focused on media, entertainment and communications investing, to sell its 50% stake in Screenvision for a cash consideration of US $80m. Completion of the transaction is subject to US Hart Scott Rodino anti-trust clearance.
Commenting on the transaction Adam Crozier, Chief Executive of ITV plc, said:
“This is another important step for ITV as we progress our transformation plan to focus the business on its core objectives of UK multi-platform broadcasting and global content. The proceeds of this sale will positively impact our net debt which decreased by £175m in the six months to 30th June 2010.”
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- ITV plc secures full ownership of GMTV Posted on November 26, 2009