Channel 5 reportedly up for sale

Richard Desmond, the owner of UK terrestrial network Channel 5, is reportedly weighing up selling the channel in a deal that could be worth more than £700 million (€846 million).

According to a Financial Times report, which cites two people familiar with the situation, Desmond has tasked Barclays with advising on possible options for Channel 5 – including a sale early this year.

Desmond, whose media firm Northern & Shell bought the network from RTL for £103.5 million in 2010, would aim to raise more than £700 million through a sale, the report said.

ITV and Turner Broadcasting have been named as potential buyers, though the FT’s sources warned that there was no guarantee that the process would lead to an acquisition.