OK! Boss looks at Five

July 12, 2010

For a TV channel that was written down in value by its owners from £500 million to £112 million and that lost £39 million during 2009, the sale of the terrestrial TV channel Five has brought in a lot of interest.

The frontrunners are Sky, ITV, Endemol owner John de Mol and now Richard Desmond, owner of the Daily Express and OK! Magazine, has thrown his hat into the ring to emerge as one of the frontrunners to buy the channel with the view to turning it around.

The buying process is being organised by the investment bank JP Morgan.

It is believed that they will be reducing the buyers down to just two, who will then bid for the channel, which has an estimated value of between £100 million and £300 million.


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