ITV buys Disney's 25% in GMTV for ?22million

ITV buys Disney's 25% in GMTV for ?22million

MUMBAI: UK-based ITV has taken complete ownership of GMTV, the national breakfast-time Channel 3 licensee, after buying out The Walt Disney Company‘s stake.


ITV, which held 75 per cent of GMTV, has acquired the other 25 per cent stake from Disney and one of its subsidiaries, paying Rs 1.69 billion (?22 million). 


With this buyout, the company aims to focus on its core activities and allow closer integration between ITV and the breakfast service.


The acquisition hoists the threat of job losses at the breakfast broadcaster, employing approximately 300 staff members.
 

Sign up for our Newsletter

subscribe for latest stories