UBS to help ITV sell SDN multiplex

ITV has hired Swiss investment bank UBS to broker the sale of its digital terrestrial multiplex operator SDN, according to reports.

The financial firm beat off competition from rival Lazard to secure the right to organise the sale of SDN, which some experts believe could fetch up to £200 million.

ITV acquired the multiplex operator back in 2005 in a deal worth £149 million.

SDN operates digital terrestrial multiplex A, which carries channels that are key to the Freeview offering including Five, CNN and Virgin1. Pay TV service Top Up TV also rents space on the multiplex.

Its sale is part of ITV's efforts to trim non-essential assets and also scale back its focus to the core business of operating its television channels. It has even suggested that ITV may move its digital channels ITV2, 3 and 4 off free-to-air distribution platforms so that they may be distributed on pay TV.

No specific timelines for the sale or interested parties have yet been revealed.