A little background on Granada Media, who have a big
USA program!!!
Today's little Irish venture, but contains a lot of
Granada background data!!
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Granada Media PLC
11 September 2000
GRANADA MEDIA TAKES EQUITY STAKE IN TV3 IRELAND
Granada Media plc today announces that it has taken a 45
per cent equity stake in TV3, the Republic of Ireland's
fast growing, independent free-to-air national
broadcaster, for £18.7 million in cash.
Granada Media and Canada's CanWest Global Communications
Corp, which holds a further 45 per cent of the equity in
TV3, will form a new joint venture company to hold their
combined stake, together with the founders of TV3, a
consortium consisting of Mr James Morris, Chairman of
TV3, Windmill Lane Pictures Limited, Mr Osmond Kilkenny
and Mr Paul McGuinness.
Granada Media has also today signed a wide-ranging
agreement to sell its major programme brands, including
Coronation Street and Emmerdale, to TV3. Coronation
Street is Ireland's top-rated television programme and
will move from RTE, the national state broadcaster, to
TV3 from 1 January 2001.
In addition, Granada Enterprises, Granada Media's
commercial arm, which already represents TV3 in London
and currently generates £2 million a year in airtime
sales for the channel, will expand its relationship to
include sales of prime programme sponsorship on TV3.
Charles Allen, Chairman of Granada Media, said:
'At the time of Granada Media's recent IPO, we said that
once we had consolidated our position in UK commercial
television, we would turn our attention to growing our
business in Europe. Today's deal with TV3 is a
significant first step in our European development
programme and immediately positions Granada Media as a
vertically integrated broadcaster in one of Europe's most
dynamic economies.'
Steve Morrison, Chief Executive of Granada Media, said:
'We are delighted to have been invited by TV3 to join
Ireland's fast-growing and only independent commercial
television channel. The launch of TV3 by James Morris
and CanWest two years ago was one of the most successful
broadcasting launches ever seen in Europe. TV3 is now
thriving and we are confident that the addition of
Coronation Street and Emmerdale to its schedule will
accelerate the growth of its audience and revenues in the
coming years.'
TV3 is Ireland's only independent commercial free-to-air
channel and was launched in September 1998. Since then,
it has quickly grown its share of the television audience
in the Republic of Ireland to over 9 per cent and it
continues to grow strongly.
Leonard Asper, CanWest's President and Chief Executive
Officer, added:
'We welcome Granada Media, one of Europe's most respected
media companies, into the TV3 family.
'This transaction, together with the programme supply
agreement, accelerates the already substantial growth of
TV3 in Ireland and provides the network with some of the
best programming available from the U.K.'
James Morris, Chairman of TV3, commented:
'We are delighted to welcome Granada Media as an investor
in TV3. TV3 is Ireland's only independent, commercial
free-to-air channel and is already the third most watched
channel in Ireland after less than two years on air, with
an audience share of just under 10 per cent.
'TV3 has a strong original Irish programming content and
made Irish television history last year with the launch
of Ireland's first live breakfast programme broadcast
five days a week.
'We expect TV3's audience and advertising share to
accelerate rapidly once Coronation Street and Emmerdale
move to TV3 early next year. The investment by Granada
is an endorsement of the expertise of the employees of
TV3 and the success which they have achieved.'
Enquiries:
Granada Media 020 7451 3000
Charles Allen
Steve Morrison
Henry Staunton
Analysts
Peter Coleridge 020 7451 6412
Press
Susan Donovan 020 7737 8639
Tim Hollingsworth 020 7261 3636
Citigate Dewe Rogerson 020 7638 9571
Jonathan Clare
Simon Rigby
Chris Barrie
TV3 Television Network 00 353-1-419-3333
Gillian Rowntree
For press photographs of Coronation St:
David Crook, Granada TV Picture Desk 0161 827 2361
Notes to Editors:
1. Regulatory approval
The transaction is subject to the approval of the
Independent Radio & Television Commission (IRTC), the commercial
television regulator in the Republic of Ireland.
2. The TV3 programme supply agreement and TV3
The agreement includes four episodes a week of
Ireland's most popular television show Coronation Street, and five
episodes a week of Emmerdale. Other drama, factual, lifestyle, TV
movies and international productions will be part of the supply
agreement.
Launched in September 1998 TV3 is the only
independent, commercial free-to-air national channel
in the Republic of Ireland.
The launch of TV3 marked a new era in Irish television,
offering viewers a quality alternative to the country's three
state-owned networks. In less than two years TV3 has built an
audience share of just under 10% making it one of the most successful
launches of an independent free to air broadcaster in Western
Europe in recent times. TV3 employs 200 people and is based in
Ballymount in Dublin. It broadcasts over 1,000 hours per annum of
original irish programming and provides a wide variety of
content including news & information, sport, entertainment, comedy,
movies, drama and documentaries. Almost 1.5 million viewers tune
into TV3's news programmes each week with news studios in Galway,
Cork & Belfast. TV3 made Irish television history in
September 1999 with the launch of Ireland's first breakfast TV service
'Ireland AM' a live two-hour magazine and lifestyle programme
broadcast 5 days a week.
3. Granada Media plc
Granada Media is an integrated content creator and
broadcaster and FTSE 100 company. It produces content for UK and
international audiences which is distributed by both third party and
proprietary distribution routes, including free to air, pay TV,
digital TV and the internet.
It makes nearly 6,000 hours of original television programmes
feature films and TV movies a year, selling them to
more than 120 countries. It has 11 different production operations
worldwide, has an interest in eight pay television channels and a
Broadband business which encompasses a range of internet and new
media ventures.
Granada Media owns broadcasting licences accounting for
one third of the advertising revenue generated by ITV, the UK's
most popular television channel. It also owns 50 per cent of
ONdigital, the world's first digital terrestrial television operator.
Granada Media has a 50 per cent share of Redheart, Australia's
largest television programme producer and has a 10 per cent
stake in Channel 7, Australia's biggest commercial television
channel.
In July 2000, Granada Media announced that it had
agreed to buy the broadcast, production and international
distribution businesses of United News and Media plc for £1.75
billion.
For more information visit our website: www.granadamedia.com
4. CanWest Global Communications Corp
CanWest Global Communications Corp. (NYSE: CWG; TSE,
WSE:CGS.S and CGS.A; is an international media
company. CanWest owns, operates and/or holds
substantial interests in conventional television ,
specialty cable channels, and radio networks in
Canada, New Zealand, Australia, Ireland and the United
Kingdom. The Company's program production and
distribution division and interactive media division
operate in several countries throughout the world. |
