Business

UTV shareholders agree £100m sale

UTV's television assets are to be sold to ITV for £100m

THE shareholders of UTV have approved the sale of its television assets to ITV.

They voted overwhelmingly in favour of the £100 million sale at the group's annual general meeting today.

Last month, UTV said it would return as much as £55m to shareholders once the sale completes - which is expected to be in the first quarter of next year.

Once the sale, which includes television stations on both sides of the border, goes through, it will leave UTV Media primarily as a radio company.

ITV has said it will retail the UTV name.

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