In a statement to the stock exchange this morning, the company said the sale would include UTV Ireland, its Irish TV channel that was launched in January.
UTV Ireland reported a first half loss of 10.2 million euro for 2015.
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Our business editor Vincent Wall says it is not clear if there will be changes to the station as a result.
“UTV says that it will enable them to pay off all bank debts and to distribute some of the proceeds to shareholders” he said.
“I suppose the key question is what will happen UTV Ireland in Dublin, whether ITV will maintain it in its current form”.
“They have bought the brand – the UTV brand – so the names will stay the same for the time being” he added.
