LONDON: The UK's biggest commercial broadcaster ITV is selling its 45% stake in Irish television channel TV3 for £70 million ($132m; €103m) to private equity group Doughty Hanson.

Proceeds from the deal, which is subject to regulatory approval, will be used to fund ITV's current program of returning around £500m to shareholders.

This is broadly the same figure raised by ITV from the sale of non-core assets since the company's creation in a merger between Carlton Communications and Granada in 2004.

Data sourced from; additional content by WARC staff