Magazine article Screen International

Discovery on Brink of Channel 5 Deal

Magazine article Screen International

Discovery on Brink of Channel 5 Deal

Article excerpt

Discovery Communications and BSkyB are poised to announce a £350m deal to acquire UK broadcaster Channel 5 from Richard Desmond's Northern & Shell, according to Screen's sister publication Broadcast.

Full details are not known, but Discovery is thought to have a 70% share of the deal with BSkyB taking the remaining 30% share, allowing it to add C5's advertising inventory to its own sales operation.

The deal will mark a significant step for US media giant Discovery, which has been keen to ramp up both its international portfolio and its exposure to free-to-air broadcasting in key markets.

"We have a number of bids as expected, which we will evaluate with our advisors over the next few days," said a C5 spokesperson. "Certainly no deal has been done."

The joint Discovery and BSkyB bid has been the favourite since Broadcast revealed that around 20 parties were interested in submitting bids in March. …

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