Channel 5 denies deal has been done with BSkyB and Discovery Communications for sale of the business
Northern & Shell has denied reports that Channel 5 is to be sold to BSkyB and Discovery Communications in a deal worth £350m.
No deal: Channel 5 say bids are still being evaluated
An article from Broadcast Now on Tuesday reported that an announcement of the deal was imminent, but Northern & Shell has insisted no deal has been done.
A statement from the company said: “We have a number of bids as expected, which we will evaluate with our advisors over the next few days. Certainly no deal has been done.”
The company did not elaborate on whether or not an offer from BSkyB and Discovery Communications is on the table. BSkyB has so far declined to comment.
It emerged at the beginning of the year that Northern & Shell owner – which has Channel 5, Daily Express and Daily Star newspapers and adult television channels in its group – Richard Desmond was seeking to offload the channel after buying it three years earlier for £103m.
Desmond turned the business around and into profit after taking it on, and analysts speculated he may be looking for around £700m for the business.