NewsCorp Mulls Channel 5 Stake

11 September 2001

Rupert Murdoch’s NewsCorp is in talks about acquiring a stake in British terrestrial commercial TV station Channel 5.

NewsCorp is mulling a takeover of the 35% holding in the broadcaster owned by United Business Media, currently transforming itself from a TV firm into a market research and business information publisher under chief executive Lord Clive Hollick.

European media giant RTL, majority owner of Channel 5, would be offered the stake first, but is thought to be unwilling to take full control. A deal with NewsCorp could result in new sources of revenue and cost savings – for example, ITN might be replaced as the channel’s news provider by NewsCorp-owned Sky News.

News source: CampaignLive (UK)