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April 7, 2008

ITV sells their holding in Arsenal Broadband


by David Allen
<br />
ITV sells their holding in Arsenal Broadband<br />

In a deal that is set to complete the sale of all of their assets that are related to Premier League football, ITV have sold their fifty per cent holding in Arsenal Football Clubs branded Broadband service.

But the deal will not see a stranger in the Arsenal camp, for the stake has been bought by the person who already owns twelve per cent of the football itself, the sporting tycoon Stan Kroenke for a figure of around £22.7 million.

Kroenke has been a good contact for ITV, as it was him to whom they sold an almost ten per cent holding in the Arsenal Football Club to around this time last year and coupled together with this latest deal it means that he now has around £65 million invested in the club.

ITV have risen well over £620 million through the sale of what they call non core assets, many of which were football related, this follows the deal that see a merging of the established ITV broadcasters Carlton and Granada.

Story link: ITV sells their holding in Arsenal Broadband


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