Attempt to block SelecTV takeover

MOVES are afoot within the TV industry to find a white knight to stop Associated Newspapers taking effective control of SelecTV, the production company with a 15 per cent stake in Meridian Broadcasting that has recently been racked by boardroom dissent, writes Jason Nisse.

Associated, publisher of the Daily Mail, has taken a 9 per cent stake in SelecTV, whose programmes include Birds of a Feather and Lovejoy, and has indicated it wants to increase the holding. It is understood to be negotiating to buy the 8 per cent of the company owned by Michael Buckley, who was deposed as chairman after a boardroom bust-up.

Mr Buckley has also been granted options over another 2 per cent of the company's shares. Associated is thought to have proposed that Julian Aston, the head of Associated's Harmsworth Television, is given a seat on SelecTV's board.

MAI, the group headed by Labour peer Lord Hollick that owns 51 per cent of Meridian, is believed to oppose Associated gaining control of SelecTV and so acquiring the 15 per cent stake in Meridian. 'There is no way Lord Hollick wants Sir David English on the Meridian board,' said an insider.

It is understood another leading TV production company has been approached to make a bid.