General News

Cable firm may buy terrestrial digital broadcaster

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Jul 16, 2001 | 11:17am EDT

British cable company NTL has offered to buy the money-losing ITV Digital (formerly ONdigital) from Carlton and Granada, the London Sunday Telegraph reported. According to the newspaper, NTL is proposing a stock swap under which Carlton and Granada would each emerge with a 10 percent stake in the enlarged NTL. At the same time, the two commercial broadcasters would also agree to inject about $425 million into ITV Digital before it is sold to continue to fund the company's ongoing losses. However, a spokesman for Granada told Reuters late Sunday that no such negotiations with NTL were being held.

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