Richard Desmond

Viacom buys UK’s Channel 5 for £450 million

Viacom has acquired UK terrestrial broadcaster Channel 5 for £450 million (€548 million), in a deal the US entertainment giant said will accelerate its strategy in “one of the world’s most important and valuable media markets.” Confirming the deal today, Viacom said that free-to-air Channel 5 will complement Viacom’s existing pay TV networks and “enhance […]

Channel 5 boss Desmond steps down

UK terrestrial broadcaster Channel 5’s owner, Richard Desmond, has quietly stepped down as a director ahead of a potential sale. An Independent newspaper report revealed Channel 5 owner Richard Desmond has stepped down from the board of parent company Channel 5 Broadcasting, along with other senior executives. The paper also reports Desmond has sent out […]

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 […]