UTV Media has announced that it will be selling its television assets to ITV for £100 million.
The news was revealed in a statement to the stock exchange, where the company also said that the sale would include UTV Ireland.
However, the company will retain its radio properties to include FM 104, Q102 and Galway Bay FM.
On sale: UTV Ireland is reportedly being sold | MAXWELLS
Speaking about the announcement, chairman of UTV, Richard Huntingford revealed in a statement that he believed the station could grow with ITV.
“Having successfully extended the reach of our television business with the launch of UTV Ireland, I believe that shareholder value can be maximised through our television interests becoming part of ITV’s global broadcast and content business,” he said
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