Business Services Industry
British TV channel shareholders to resume merger talks with cable broadcaster.
Knight Ridder/Tribune Business News, November, 2004
By Jessica Hodgson, The Business, London Knight Ridder/Tribune Business News
Nov. 21--Shareholders in Five, the youngest and smallest UK terrestrial channel, will reopen talks with Flextech, the content arm of cable broadcaster Telewest, after the collapse of merger talks with Channel 4 last week.
Five, which launched the career of newsreader Kirsty Young when it began in 1997, was left in the cold last week as Channel 4 backed out of discussions with its shareholders, Bertelsmann subsidiary RTL and Lord Hollick's United Business Media.
RTL and United will at some point approach WR Huff Asset Management, the New Jersey fund management firm described as a "vulture investor" which controls more than 20 percent of Telewest through bond...
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