The pay television company Flextech has put in a bid to buy an 18
per cent stake in Channel 5.
Flextech and Channel 5 are declining to comment, but an industry insider
said it was unlikely the deal would go ahead because the shareholders
will not agree to part with their stakes in the company. Channel 5’s
three major shareholders all retain the right of refusal.
Channel 5 has a 5 per cent audience share and is owned by Pearson,
United News and Media and Germany’s CLT-UFA. There is speculation that
BSkyB expressed an interest in the stake, but declined to make a formal
The Flextech bid for the 18 per cent share is expected to value Channel
5 at approximately pounds 1 billion.