Sale of Technicolor could net £1.7bn for Carlton

Carlton Communications, the media group group, yesterday announced plans to sell off its Technicolor film print processing business.

Analysts believe that the sale of the subsidiary, which has operations in nine countries, could net as much as £1.7bn for Carlton. In the year ending 30 September 1999 it had revenues of about £1bn. Its sale will enable Carlton to focus on its television operations and online ventures.

The disposal is likely to generate strong interest from several rival media groups, including Bertelsmann of Germany and Time Warner of the US.

Carlton, which operates the weekday London independent television franchise, the Carlton Central franchise and Westcountry TV, announced plans earlier this year for a merger with United News & Media, which owns the Anglia, Meridian and HTV independent television franchises.

The merger is currently awaiting the outcome of an inquiry by the Competition Commission into consolidation between ITV companies. The inquiry's report is expected next month.