Fuller sells stakes in his Popworld to C4 and UBC
Tuesday 14 September 2004
Simon Fuller, the multimillionaire pop entrepreneur, added another £750,000 to his fortune as he brought UBC Media and Channel Four into his business empire yesterday.
Mr Fuller, who owns 19 Management and the PopIdol format, sold 37.5 per cent of Popworld, a music-based live performance and chat show that appears weekly on Channel Four. It is also broadcast on Channel Four's digital channel, E4, and has a nightly slot on MTV. Channel Four took a 25 per cent stake in Popworld and UBC Media, which supplies content such as traffic and news bulletins to radio stations, took a 12.5 per cent stake for £250,000. It has an option to buy a further 12.5 per cent at any time up to January 2005 at the same price.
Popworld plans to produce radio material in the same style as the television programme, which it will then syndicate to radio stations through UBC. A dedicated Popworld radio station could also emerge.
Simon Cole, the chief executive of UBC Media, said: "The programme is one of the few music shows on terrestrial television with a growing audience share - up 9 per cent this year. In digital radio, where there are so many new names for stations, you need a brand that the audience know immediately. Popworld has that with the 15 to 17-year-old market."
- 1 Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
- 2 A politically correct lefty goes to see Top Gear live – you'll probably believe what happened next
- 3 Young Preston fan has play-off hero Jermaine Beckford's shirt stolen from him at Wembley - which then appears for sale on Gumtree
- 4 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
- 5 Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
EU referendum: David Cameron's rules are a 'democratic disgrace', says French-born Scottish politician set to be denied a vote
A nation of inequality: How the UK is failing to feed its most vulnerable people
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...