TV
ITV raised £172m to be used for debt-paying purposes when it sold its stake in Thomson to Citigroup and UBS today.
The network is expected to divest other non-core assets including Carlton Screen Advertising and a stake in Australia's Seven Network as part of a programme to boost its balance sheet by reducing its debt load.
"We're delighted to have disposed of our largest non-core asset sooner than expected at a five-month high and reduced our borrowings by £172m," said ITV CEO Charles Allen.
The network is expected to divest other non-core assets including Carlton Screen Advertising and a stake in Australia's Seven Network as part of a programme to boost its balance sheet by reducing its debt load.
"We're delighted to have disposed of our largest non-core asset sooner than expected at a five-month high and reduced our borrowings by £172m," said ITV CEO Charles Allen.
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