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Channel 5 Set To Be Sold To Viacom For GBP450

MTV owner Viacom looks set to become the first U.S. broadcaster to buy a British free-to-air television channel with an announcement possibly coming later today. Richard Desmond, who also owns The Daily Express and the Health Lottery, had put a price tag of GBP700m -- but bids from interested parties, believed to have also included BT, Channel 4 and ITV, fell far short. If the GBP450m Viacom deal is announced it will place Sky in an awkward position. It handles UK advertising for Viacom.

Read the whole story at The Daily Telegraph »

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