BSkyB and Discovery Communications reportedly set to announce acquisition of Channel 5
BSkyB and US-based Discovery Communications are reportedly set to announce a £350m acquisition of Channel 5.
Channel 5 owner Richard Desmond began a hunt at the beginning of the year for a buyer of the business, which he bought for £103m three years ago from Luxembourg-based RTL. His first move was to sack the majority of the board and cut a number of jobs.
According to Broadcast Now, BSkyB and Discover Communications – which owns brands such as the Discovery Channel and Animal Planet – have struck a deal to acquire the channel.
Despite turning the business around and bringing Read full story ›
Source: The Drum
