The Money Channel signs Granada deal
Tuesday 09 November 1999
The boost to the channel, scheduled to begin broadcasting on Sky Digital on 7 February, saw the company's share price jump a further 37p to 132p, valuing it at pounds 56m. It has gained 600 per cent since its June flotation at 22p.
Granada Mediasales is Britain's leading television air-time sales house. Its satellite and cable division sells television air time and programme sponsorship for Granada Sky Broadcasting's channels, The Performance Channel, Champions' League football and other special broadcasts on ONdigital.
"Following our deal with BSkyB last month, this is our second alliance with a major international media group. It shows that The Money Channel's powerful proposition for easy-to-understand financial television programming continues to win industry support," said chairman Paul Killik.
Directors of the company, including Mr Killik and former pop star Adam Faith, have a 27 per cent stake. Investment bank Schroders owns 20 per cent.
With the pounds 6.5m raised from the sale of 53 per cent of the company's stock, The Money Channel is building state-of-the-art studios in Wapping, east London. The channel will operate 24 hours a day, including repeat programming. Its live segments will correspond with the opening hours of the London Stock Exchange.
The company is contracting about 100 market and consumer finance specialists to provide comment and analysis. The channel will cover pensions and savings, mortgage, insurance and credit-card issues. It plans to launch an Internet website once the satellite TV channel is broadcasting.
- 1 What happens to your body when you give up sugar?
- 2 Drugs Live cannabis trial: Hash is less harmful than any other drug, expert claims
- 3 Have sex with your iPad thanks to the new sex toy no-one asked for
- 4 African jawbone discovery pushes birth of humanity back by 400,000 years
- 5 The 'sex selfie stick' lets you FaceTime the inside of a vagina
Out-of-touch MPs ‘don’t get it’, says ex-Civil Service chief
George Clooney and Amal fail to get special treatment at New York restaurant
'A girl is more responsible for rape than a boy': The statement that shocked the world... except India
African jawbone discovery pushes birth of humanity back by 400,000 years
The 'sex selfie stick' lets you FaceTime the inside of a vagina
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
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
iJobs Money & Business
£8 per hour: Recruitment Genius: This Pension Specialist was established early...
£30 - 35k + Bonus & Benefits: Guru Careers: We are seeking an Executive Assist...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...