ITV sells stake back to club

[whitewidow]

http://www.itvplc.com/itv/news/regulatory/...08843nRNSE3998P

 

RNS Number:3998P

ITV PLC

05 March 2008

 

 

 

5th March 2008

 

 

 

ITV SELLS STAKE IN LIVERPOOLFC.TV

 

 

 

ITV plc today announced it has completed the sale of its 50% share in

Liverpoolfc.tv to The Liverpool Football and Athletic Grounds Limited for a

consideration of £15.75m, plus repayment of approximately £3.5m of debt. The

consideration was received in cash as to £10.5m on completion and the balance of

£5.25m is due in December 2008.

 

 

Jonathan Rogers, Director of Operations, ITV Channels, said:

 

 

"This is another step in ITV's ongoing non-core asset disposal programme, which

has seen us successfully raise over £600 million since the merger in 2004.

 

 

Liverpoolfc.tv has grown to become the UK's most popular club website and we

wish them the very best for the future."

[muleskinner]

Mascherano perhaps wasn't paid for with another Hicksaloan.

[Rimbeux]

That's a relief, that it's the club and not KOP or Hicks buying. That's a chunk of the working capital, and I speculate long planned

[Rimbeux]

Mascherano perhaps wasn't paid for with another Hicksaloan.

 

[Greenoak]

This is money paid by the club not received.

 

Where the club found 10m from is anyones guess, plus another 5 to pay in december

 

Thats another transfer cancelled then

[Rimbeux]

This is money paid by the club not received.

 

Where the club found 10m from is anyones guess, plus another 5 to pay in december

 

Thats another transfer cancelled then

 

£45m of working capital...

[Kite]

Doesn't strike me as the actions of a club expecting to change ownership soon?

[Rimbeux]

Doesn't strike me as the actions of a club expecting to change ownership soon?

 

I think it's been long planned and budgeted for. ITv have been actively selling up their shares in clubs and club websites that Granada bought into for a good while, I dont think the timing is significant

[nepeter]

this is a very positive sign. actually these small things matter. i really have faith in hicks and gillet. i really would like them to continue and it is better then to have the arabs in who would destroy the culture of liverpool fc. i think that is why moores did not sell to them and prefer to deal with gillet and hicks. at the beginning of many relationship a few bumps come about. if these can be ironed out it would be very positive . if liverpool can be value at 800m now imagine what it would be worth if everything is in order . having full control of the website, having new marketing and strategy in place and new stadium. things look up.

[Rimbeux]

this is a very positive sign. actually these small things matter. i really have faith in hicks and gillet. i really would like them to continue and it is better then to have the arabs in who would destroy the culture of liverpool fc. i think that is why moores did not sell to them and prefer to deal with gillet and hicks. at the beginning of many relationship a few bumps come about. if these can be ironed out it would be very positive . if liverpool can be value at 800m now imagine what it would be worth if everything is in order . having full control of the website, having new marketing and strategy in place and new stadium. things look up.

 

 

[pipnasty]

I think it's been long planned and budgeted for. ITv have been actively selling up their shares in clubs and club websites that Granada bought into for a good while, I dont think the timing is significant

 

Correct.

 

It has been planned for a while - ITV, after many years of expansion, are now in the final phase of ridding themselves of all that they acquired during the boom years. It is just a coincidence that it is now.

[pipnasty]

this is a very positive sign. actually these small things matter. i really have faith in hicks and gillet. i really would like them to continue and it is better then to have the arabs in who would destroy the culture of liverpool fc. i think that is why moores did not sell to them and prefer to deal with gillet and hicks. at the beginning of many relationship a few bumps come about. if these can be ironed out it would be very positive . if liverpool can be value at 800m now imagine what it would be worth if everything is in order . having full control of the website, having new marketing and strategy in place and new stadium. things look up.

 

 

Hello Mr Hicks / Mr Gillett / Mr Parry / Cobs (delete where applicable)

[billybunter]

that PR is really coming along nicely

[Paisley]

this is a very positive sign. actually these small things matter. i really have faith in hicks and gillet. i really would like them to continue and it is better then to have the arabs in who would destroy the culture of liverpool fc. i think that is why moores did not sell to them and prefer to deal with gillet and hicks. at the beginning of many relationship a few bumps come about. if these can be ironed out it would be very positive . if liverpool can be value at 800m now imagine what it would be worth if everything is in order . having full control of the website, having new marketing and strategy in place and new stadium. things look up.

 

You're a used car salesman's dream!

[meepins]

this is a very positive sign. actually these small things matter. i really have faith in hicks and gillet. i really would like them to continue and it is better then to have the arabs in who would destroy the culture of liverpool fc. i think that is why moores did not sell to them and prefer to deal with gillet and hicks. at the beginning of many relationship a few bumps come about. if these can be ironed out it would be very positive . if liverpool can be value at 800m now imagine what it would be worth if everything is in order . having full control of the website, having new marketing and strategy in place and new stadium. things look up.

Edited March 6, 2008 by meepins