Richard Desmond, owner of Express Newspapers and founder of Northern & Shell, has sold his adult TV business, breaking all ties with the adult entertainment industry that kicked off his empire.
The sale was announced today (1 April) by his company Northern & Shell in what was described as a “six-figure deal”.
It involves the sale of the company’s adult broadcasting arm Portland Television, and the five channels it operates, in a management buyout worth less than £1m.
The move comes 12 years after he sold his adult magazines including Asian Babes and Big Ones for around £20m in 2004. It Read full story ›
Source: The Drum
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