RTL set for ITV bid

Posted by Rachael Gallagher on 6 October 2008 at 11:31
Tags: Broadcast, Television

After announcing 1,000 job cuts and BSkyB being forced to sell down its share in the company, things could be looking up for ITV.

RTL, the owner of Five, has been given the go-ahead by its parent company Bertelsmann to bid for the company, with the RTL chief executive being given more than £1bn for European acquisitions, reports The Observer.

Following the ruling by the Competition Appeal Tribunal last week that BSkyB had to sell down its 17.9 per cent share in the company, ITV’s shares began to slide, down 4.7 per cent yesterday morning, and last month the broadcaster also lost its status as a blue-chip company the FTSE 100 index.

ITV shouldn’t get its hopes up just yet, however, as BSkyB is considering yet another appeal against the decision.

Tags: Broadcast, Television