TV
Granada Media plc has taken a 45 per cent equity stake in TV3, the Republic of Ireland's fast growing, independent free-to-air national broadcaster, for £18.7 million in cash.
Granada Media and Canada's CanWest Global Communications Corp, which holds a further 45 per cent of the equity in TV3, will form a new joint venture company to hold their combined stake, together with the founders of TV3, a consortium consisting of Mr James Morris, Chairman of TV3, Windmill Lane Pictures Limited, Mr Osmond Kilkenny and Mr Paul McGuinness.
Granada Media has also today signed a wide-ranging agreement to sell its major programme brands, including Coronation Street and Emmerdale, to TV3. Coronation Street is Ireland's top-rated television programme and will move from RTE, the national state broadcaster, to TV3 from 1 January 2001.
In addition, Granada Enterprises, Granada Media's commercial arm, which already represents TV3 in London and currently generates £2 million a year in airtime sales for the channel, will expand its relationship to include sales of prime programme sponsorship on TV3.
Charles Allen, Chairman of Granada Media, said:
"At the time of Granada Media's recent IPO, we said that once we had consolidated our position in UK commercial television, we would turn our attention to growing our business in Europe. Today's deal with TV3 is a significant first step in our European development programme and immediately positions Granada Media as a vertically integrated broadcaster in one of Europe's most dynamic economies."
Steve Morrison, Chief Executive of Granada Media, said:
"We are delighted to have been invited by TV3 to join Ireland's fast-growing and only independent commercial television channel. The launch of TV3 by James Morris and CanWest two years ago was one of the most successful broadcasting launches ever seen in Europe. TV3 is now thriving and we are confident that the addition of Coronation Street and Emmerdale to its schedule will accelerate the growth of its audience and revenues in the coming years."
TV3 is Ireland's only independent commercial free-to-air channel and was launched in September 1998. Since then, it has quickly grown its share of the television audience in the Republic of Ireland to over 9 per cent and it continues to grow strongly.
Leonard Asper, CanWest's President and Chief Executive Officer, added:
"We welcome Granada Media, one of Europe's most respected media companies, into the TV3 family.
"This transaction, together with the programme supply agreement, accelerates the already substantial growth of TV3 in Ireland and provides the network with some of the best programming available from the U.K."
James Morris, Chairman of TV3, commented:
"We are delighted to welcome Granada Media as an investor in TV3. TV3 is Ireland's only independent, commercial free-to-air channel and is already the third most watched channel in Ireland after less than two years on air, with an audience share of just under 10 per cent.
"TV3 has a strong original Irish programming content and made Irish television history last year with the launch of Ireland's first live breakfast programme broadcast five days a week.
"We expect TV3's audience and advertising share to accelerate rapidly once Coronation Street and Emmerdale move to TV3 early next year. The investment by Granada is an endorsement of the expertise of the employees of TV3 and the success which they have achieved."
Granada Media and Canada's CanWest Global Communications Corp, which holds a further 45 per cent of the equity in TV3, will form a new joint venture company to hold their combined stake, together with the founders of TV3, a consortium consisting of Mr James Morris, Chairman of TV3, Windmill Lane Pictures Limited, Mr Osmond Kilkenny and Mr Paul McGuinness.
Granada Media has also today signed a wide-ranging agreement to sell its major programme brands, including Coronation Street and Emmerdale, to TV3. Coronation Street is Ireland's top-rated television programme and will move from RTE, the national state broadcaster, to TV3 from 1 January 2001.
In addition, Granada Enterprises, Granada Media's commercial arm, which already represents TV3 in London and currently generates £2 million a year in airtime sales for the channel, will expand its relationship to include sales of prime programme sponsorship on TV3.
Charles Allen, Chairman of Granada Media, said:
"At the time of Granada Media's recent IPO, we said that once we had consolidated our position in UK commercial television, we would turn our attention to growing our business in Europe. Today's deal with TV3 is a significant first step in our European development programme and immediately positions Granada Media as a vertically integrated broadcaster in one of Europe's most dynamic economies."
Steve Morrison, Chief Executive of Granada Media, said:
"We are delighted to have been invited by TV3 to join Ireland's fast-growing and only independent commercial television channel. The launch of TV3 by James Morris and CanWest two years ago was one of the most successful broadcasting launches ever seen in Europe. TV3 is now thriving and we are confident that the addition of Coronation Street and Emmerdale to its schedule will accelerate the growth of its audience and revenues in the coming years."
TV3 is Ireland's only independent commercial free-to-air channel and was launched in September 1998. Since then, it has quickly grown its share of the television audience in the Republic of Ireland to over 9 per cent and it continues to grow strongly.
Leonard Asper, CanWest's President and Chief Executive Officer, added:
"We welcome Granada Media, one of Europe's most respected media companies, into the TV3 family.
"This transaction, together with the programme supply agreement, accelerates the already substantial growth of TV3 in Ireland and provides the network with some of the best programming available from the U.K."
James Morris, Chairman of TV3, commented:
"We are delighted to welcome Granada Media as an investor in TV3. TV3 is Ireland's only independent, commercial free-to-air channel and is already the third most watched channel in Ireland after less than two years on air, with an audience share of just under 10 per cent.
"TV3 has a strong original Irish programming content and made Irish television history last year with the launch of Ireland's first live breakfast programme broadcast five days a week.
"We expect TV3's audience and advertising share to accelerate rapidly once Coronation Street and Emmerdale move to TV3 early next year. The investment by Granada is an endorsement of the expertise of the employees of TV3 and the success which they have achieved."
Tube Talk
'Freaks and Geeks': Tube Talk GoldTube Talk Gold heads back to the '80s and remembers Freaks and Geeks.
TV Interviews
'Celebrity Apprentice' Donald Trump Q&ADonald Trump teases the new season of Celebrity Apprentice.
Reality Bites
Does Simon Cowell have new SuBo?: VideoWatch a clip of Jonathan Antoine, who is tipped for success on BGT.
TV Ratings
Judi Dench draws 4.1m on 'Graham Norton'ITV1 pips BBC One to the highest primetime audience share.
