MAI threat to Granada after YTTV deal

BYLN: By Meg Carter

MAI, the financial services to media group, has bought Pearson’s 15 per cent stake in Yorkshire-Tyne Tees Television for 41.3m.

The purchase, announced yesterday (Tuesday), prompted speculation that it could lead to a bidding war with Granada, which holds a 14 per cent stake in YTTV and views it as a prime target should the Government relax its media ownership rules. An announcement on these rules is expected imminently.

The new stake also raises the question of a possible transfer of YTTV’s airtime business from Granada-owned sales house Laser into MAI-owned TSMS.

As the largest of three airtime sales houses selling on behalf of ITV, TSMS is already close to the upper ceiling restricting the size of individual sales points.

Pearson’s decision to sell enables it to take up to 20 per cent interest in Channel 5 under existing media ownership regulations, a company spokesman says.