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CanWest and UTV part company

Comments

  • #2
    DMC
    Registered Users, Registered Users 2 Posts: 10,726 ✭✭✭✭DMC


    Sold to investors, but not any other broadcaster in particular... Strange that ITV plc didn't pick it up. :confused:


  • #3
    Elmo
    Registered Users, Registered Users 2 Posts: 23,641 ✭✭✭✭Elmo


    Sold to investors, but not any other broadcaster in particular... Strange that ITV plc didn't pick it up.

    Yes i thought that.

    Will canwest leave TV3?

    Or will they let ITV have it for some of ITV's shares?


  • #4
    icdg
    Moderators, Technology & Internet Moderators Posts: 12,072 Mod ✭✭✭✭icdg


    Not good for keeping UTV independent - the 29.9% stake by CanWest meant that no takeover of UTV could proceed without their co-operation. From the looks of it, it seems the stock is back on the general float of "individuals and institutions" shares which means that a takeover bid becomes much more plausable than when a stake of that size was held by one company. Doesn't mean it will necessarly be acquired by ITV plc though, anyone could go for it and UTV will still be strong in mounting a defence.

    As for TV3, I still would expect ITV plc to acquire that down the road, given their existing shareholding. CanWest has management input (Rick Herrington, and others) at TV3 so they are not a silent partner (unlike at UTV where the management team and a good chunk of the board are all long-standing UTV insiders). But ultimately TV3's place seems to be as part of the ITV empire and I don't know how long CanWest will want to remain here anyway. It probably all depends on the price ITV offer in the end.


  • #5
    mike65
    Closed Accounts Posts: 88,972 ✭✭✭✭mike65


    http://www.boards.ie/vbulletin/showthread.php?s=&threadid=170990

    maybe a thread merger required?

    Mike.


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