Feeds

ITV confirms takeover approach rejected

Nothing to see here

Beginner's guide to SSL certificates

ITV - the UK broadcaster that is branching out into net TV and which recently bought dotcom giant Friends Reunited - has rejected an approach regarding a possible buyout.

In a statement to the stock exchange today ITV said that a consortium comprising Apax Partners, The Blackstone Group and Goldman Sachs' Principal Investment Area had "recently expressed an interest in the possibility of acquiring a controlling interest in ITV".

However, execs "unanimously concluded that the proposal could not be in the best interests of all shareholders and accordingly rejected it".

With the advent of internet TV and video-on-demand industry watchers reckon ITV is ripe for an approach.

Six months ago ITV launched a pilot on the south coast of England of a new regional broadband TV service. The trial formed part of ITV's plans to diversify away from traditional TV content to help cash in on growing net-based revenues. According to the latest figures available, the amount of cash spent on internet advertising in the UK soared 73 per cent last year to £1.13bn - way past other media such as consumer and business mags, radio, outdoor and cinema.

In December ITV snapped up Friends Reunited for £120m in cash and paper with a further £55m payable if the operation hits certain numbers in 2009. The acquisition of Friends Reunited gives ITV the chance to generate content online which, in turn, will help attract much needed advertising bucks. ®

Remote control for virtualized desktops

More from The Register

next story
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
BT said to have pulled patent-infringing boxes from DSL network
Take your license demand and stick it in your ASSIA
Right to be forgotten should apply to Google.com too: EU
And hey - no need to tell the website you've de-listed. That'll make it easier ...
prev story

Whitepapers

10 ways wire data helps conquer IT complexity
IT teams can automatically detect problems across the IT environment, spot data theft, select unique pieces of transaction payloads to send to a data source, and more.
Why CIOs should rethink endpoint data protection in the age of mobility
Assessing trends in data protection, specifically with respect to mobile devices, BYOD, and remote employees.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Mitigating web security risk with SSL certificates
Web-based systems are essential tools for running business processes and delivering services to customers.