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 Tourist films plane's descent just metres above packed Caribbean beach
- 3 World Book Day: Boy 'excluded' from school after dressing up as Fifty Shades' Christian Grey
- 4 Bad Jews poster 'censored' on London Tube
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
Tourist films plane's descent just metres above packed Caribbean beach
Indian woman creates 'Marriage CV' after parents put her on dating site: 'Definitely not marriage material. Won’t grow long hair, ever'
Isis 'bulldozes' Nimrud: UNESCO condemns destruction of ancient Assyrian site as a 'war crime'
Professor Brian Cox brands astrology-believing Tory MP David Tredinnick an 'outlier on the spectrum of reason'
Lynch mob kills suspected rapist in India after dragging him naked for four miles through city
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Durham Free School: 'Creationism taught at' free school facing closure
End of the licence fee: BBC to back radical overhaul of how it is funded
Elif Shafak: Turkish author warns against rise of British nationalism
Ex-head of MI6: 'We shouldn't kid ourselves that Russia is on a path to democracy'
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
iJobs Money & Business
£13000 per annum: Recruitment Genius: This is an exciting opportunity to join ...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£12 - £15 Hourly Rate: Jemma Gent: In this role you will report to the Head of...
£8 per hour: Recruitment Genius: This Pension Specialist was established early...