ITV brings in adviser to sell Carlton Screen Advertising

by Daniel Farey-Jones, Brand Republic 21-Jan-08, 10:55

LONDON - ITV has appointed corporate adviser Grant Thornton to sell cinema advertising business Carlton Screen Advertising, according to a report.

ITV today declined to comment on the Sunday Times report, which suggests the broadcaster has injected more urgency in its plans to dispose of Carlton. It said last year it regarded the company as a non-core asset.

In addition to Carlton, the UK's second-largest cinema advertising sales house Pearl & Dean is unwanted by its owner Scottish Media Group.

Both businesses have been operating at a loss according to recent financial results and were under pressure to renegotiate their contracts with the cinema chains.

The Sunday Times also reported that the BBC and ITV are competing to buy control of 'Hotel Babylon' production company Carnival Film & Television, which has been put up for sale with a £60m price tag.

Another report in today's Daily Telegraph claims film production company Working Title is holding talks with its major shareholder NBC Universal about a joint venture establishing a European TV studio in London.