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UTV open to offers for TV business

WHILE its boardroom is reeling after the shock ousting of chairman John McGuckian, listed Irish media firm UTV has opened the door to a possible sale of its television business in Northern Ireland.

"Less than a quarter of profits come from television now. We're essentially a radio business," Scott Taunton, a UTV Media board director and the managing director of its British radio division, said last week.

There has been some speculation that ITV -- Britain's commercial TV network -- may be interested in buying out UTV's television business.

"If that was something they were interested in, we'd have a conversation," Mr Taunton said. Shane Reihill's TVC Holdings and Peter Crowley's FL Partners are the largest shareholders in the company, which also owns FM104 and Q102 in the Republic of Ireland.

Sunday Indo Business