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Article: Granada and Carlton write off ITV Digital Partners draw up pounds 200m provisions and prepare to accept pay-TV defeat
- Article from:
- The Sunday Telegraph London
- Article date:
- April 7, 2002
- Author:
CopyrightCopyright 2002 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
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CARLTON Communications and Granada are expected to announce
provisions of up pounds 200m to meet the costs of funding their ITV
Digital joint venture during its administration and restructuring
when they announce interim results at the end of May.
Carlton, which is due to report on May 28, has also indicated that
it intends to announce an additional pounds 35.6m write-off of its
remaining investment in ITV Digital, which was placed into
administration on March 27. Granada is expected to follow suit when
it reports its interim results a few days later.
The decision to write off their investments in the ailing pay-TV
business reveals that the partners give the operation little or no
chance of ...