ITN moots Reuters radio news stake

Independent Television News is considering taking a 25 per cent stake in Reuters-owned London News Radio.

Radio industry sources suggest such a deal would be a “logical” step. London News Radio enjoyed a troubled launch with lower than anticipated listening prompting early management and programming changes.

“Reuters has been disappointed with the performance of both its London stations,” one industry source claims. “A closer alliance with ITN could also see Reuters taking a stake in ITN.”

New investors in ITN are expected as a result of major shareholders Carlton and Granada being forced to reduce their 36 per cent stake to 20 per cent, in the light of the Government’s recent cross-media ownership proposals.

MAI and Reuters have been tipped as likely shareholders.

However, speculation that such a move would automatically precipitate a merger between Reuters’ news service – Reuters Radio News – is being dismissed.

“There is a widely-held belief that IRN is a subsidiary of ITN. It’s not,” says IRN managing director John Perkins. ITN has a contract to supply IRN with news. It is also a minority shareholder in the radio news supply service, he explains.

Broadcasting, page 32

Recommended

SBHD:

Marketing Week

McCann-Erickson has picked up the estimated 3m Jeyes account, which was dormant for two years before moving to Kevin Morley Marketing in April. When KMM was bought by Lintas Worldwide, Jeyes reviewed it because of a client conflict with Unilever business in the other Lintas agencies (MW June 2). The initial brief will cover two […]

No Title

Marketing Week

TV industry insiders believe the pace of terrestrial digital TV will be dictated by BSkyB when it launches its own digital satellite broadcasting next year… …Terrestrial broadcasters are understood to be in talks about developing digital receiver equipment so as not to rely on pay-TV technology controlled by Rupert Murdoch (Torin Douglas, page 17)… BSkyB’s […]

BUILDING SOCIETIES EYE BIGGER PICTURE

Marketing Week

To stem the present rush of speculative customers, building societies are hiking their minimum investment levels. But freezing out small account holders now could spell trouble for the future. Sean Brierley investigates

Comments

    Leave a comment