ITV bring in UBS to run £200m sale of freeview channel operator

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The Independent Online

ITV has appointed UBS, the Swiss investment bank, to run the sale of its freeview channel operator, SDN.

It's believed that UBS beat off Lazard to manage the auction, which could net ITV as much as £200m. The sale of SDN, which rents capacity to channels including Five and QVC, is part of a sell-off of struggling broadcaster's non-core assets. Its chief executive, Michael Grade, revealed in April that he was stepping back from day-to-day management after failing to turn the compny around.