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Bob steps down from media board

Musician and businessman Bob Geldof (inset) is leaving the board of the media firm he founded 16 years ago in a restructuring. He will step down as a non-executive director of Ten Alps, which makes documentaries for programmes such as BBC's Panorama and Channel 4's Dispatches, that he helped launch in 1999.

The production company, which also said it raised £4.5m (€6.3m) in a share sale yesterday to help buy rival production firm Reef Television, for around £5m. Reef makes the Put Your Money Where Your Mouth Is series for BBC One.

Geldof will remain a 5.47pc shareholder in the firm.