Channel Television is to be sold to ITV plc.
Contracts have been exchanged between current owners Yattendon Group plc and ITV, though the deal is subject to the approval of the Jersey Competition Regulatory Authority.
Yattendon Group plc have released the following statement:
“Yattendon Group Plc today announces that it has entered into an agreement with ITV plc to sell Channel Television subject to the approval of the Jersey Competition Regulatory Authority.
Channel Television has been owned by Yattendon Group since 2001 and during that period it has further established its reputation as a broadcaster of the highest quality.
This change of ownership comes as Channel Television is about to enter its 50th anniversary year and marks an important and exciting step in the company’s future. Channel Television is proud of its strong local heritage and under ITV’s ownership, will continue to serve the communities in the islands with high quality news, information and factual programming.”
Channel 3 is made up of a collection of 15 regional licensees and one national licence – ITV Breakfast. Eleven of the 15 regional licences in England and Wales are owned by ITV plc, which was formed in 2004 following the merger of Granada and Carlton.
SMG owns the two Scottish licences, Scottish Television and Grampian; UTV has the licence for Northern Ireland and Channel Television held the licence for the Channel Islands.
Many of the core network activities of Channel 3 are carried out on behalf of all licensees by the ITV Network. In particular, the ITV Network buys and commissions programmes and also creates the common network schedule which is exploited by each Channel 3 licensee in their region.
The Networking Arrangements (NWA), which date back to the Broadcasting Act 1990, require the Channel 3 licensees to conclude a set or arrangements that enable them to work together to produce a national television service.