Teletext in management buyout

Daily Mail & General Trust (DMGT) is selling its Teletext information service to its management.

Part of DMGT’s consumer media division, A&N Media, will take control of the business with a majority stake, which it acquired for an undisclosed amount.

Teletext generated revenues of £11 million (€13 million) and incurred a small loss in the year to October 2. Last year, DMGT was fined £225,000 by media regulator Ofcom for closing the service’s TV platform ahead of schedule. Teletext runs Teletext Holidays, which is available via the Freeview DTT platform, as well as websites teletextholidays.co.uk, thisistravel.co.uk and villarenters.co.uk.