ITV PLC ITV invests in Ginx TV (3613K)

TIDMITV

RNS Number : 3613K

ITV PLC

20 September 2016

ITV invests in Ginx TV

ITV PLC ("ITV") today announces that it has invested GBP1.55 million in cash for a 16.5% stake in Ginx TV, the owner of the UK & Ireland's only 24-hour eSports TV channel, GINX eSports TV.

GINX eSports TV, which launched on Sky in June, showcases major eSports tournaments from across the globe, as well as unique, independent programming. The schedule includes coverage of Turner's ELEAGUE tournament, FACEIT's eSports Championship Series, and Valve's The International Dota 2.

Sky has invested an equal stake in Ginx TV. Both ITV and Sky have the option to acquire further holdings in Ginx TV. If either party does not take up its option, the remaining party may have the option to acquire 100%.

Notes:

   1.   References to Ginx TV and GINX eSports TV are to Ginx TV Ltd. 

2. In the audited accounts for the year ended 31 December 2015, Ginx TV reported gross assets of GBP0.9m and a loss before tax of GBP0.7m.

   3.   This disclosure is being made in accordance with Listing Rule 10.4.1 

For further enquiries please contact:

Investor Relations

   Pippa Foulds                             [phone] or [phone] 

Media Relations

   Mary Fagan                               [phone] or [phone] 
   Mike Large                                [phone] or [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 20, 2016 10:45 ET (14:45 GMT)