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STV

STVG 378p 2.0  0.5%
4:35pm 0.750k


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STV | Stv Confirms New Networking Arrangements | RNS

RNS Number : 6613Y
STV Group PLC
05 March 2012
 



STV Group plc

 

5 March 2012

 

STV, ITV and UTV agree new Channel 3 networking agreements

 

STV today announces it has reached a comprehensive agreement with ITV on new networking arrangements, through which STV will become an affiliate of the Channel 3 Network.  The implementation of this new agreement is subject to regulatory approval and details of the new arrangements have been submitted to Ofcom.  If approved, the settlement balance of £10.8m payable by STV to ITV plc over 18 months will be made from programme stock and cash.

 

STV is confident that the new arrangements will deliver sustainable cost-sharing arrangements for the Network and enable the continued delivery of high quality commercially sustainable public service broadcast services into the next licence period.

 

Rob Woodward, CEO of STV said: "Today's announcement confirms the stability and certainty of long term, commercially sustainable networking arrangements between the Channel 3 licence holders.  STV remains 100% committed to its public service broadcasting credentials, to delivering a distinct schedule for Scotland and to providing a platform for informed debate.  We are delighted to have reached agreement on a set of terms which will benefit our viewers and consumers across all distribution platforms."

 

Adam Crozier, Chief Executive of ITV plc, said: "We look forward to continuing our positive relationship with STV under a new affiliate agreement.

"This agreement, which is still subject to regulatory approval, represents a major milestone for us as it consolidates and simplifies the ITV Network."

 

Enquiries:

 

STV Group plc

George Watt, Chief Financial Officer

Kirstin Stevenson, PR Manager                                          0141 300 3670

 

College Hill

James Hogan

Jamie Ramsay                                                                      020 7457 2020

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
AGRSSWSMIFESELD



STV Group plc is a United Kingdom-based digital media company. The Company is engaged in the production and distribution of content across multiple devices and platforms, including television broadcasting and the sale of advertising airtime and space in the media. The Company focuses on its television and digital media businesses and involved in charitable activities. The Company's segments include Consumer and Productions. The Company's Consumer segment delivers content to attract mass audiences, which are sold to advertisers. The Company's Productions segment produces content for broadcast networks in the United Kingdom and overseas. The Company's subsidiaries include STV Central Limited, STV North Limited, STV Productions Limited, STV Glasgow Limited, STV Aberdeen Limited, STV Ayr Limited, STV Dundee Limited, STV Edinburgh Limited, Scottish News Network Limited, STV Publishing Limited, STV Out of Home Limited and STV Appeal Trading Company Limited. more »

LSE Price
378p
Change
0.5%
Mkt Cap (£m)
148.7
P/E (fwd)
8.9
Yield (fwd)
4.7


 
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