ITV takes control of GMTV

ITV has taken full control of GMTV after buying Disney’s 25% stake in the breakfast broadcaster for £22.25m.
The network now plans to more closely integrate GMTV’s breakfast-time programming with its daytime lineup.
“GMTV is the gateway to the ITV day and a perfect fit with ITV’s existing daytime programming,” said ITV chief operating officer John Cresswell.
“It represents an exciting opportunity to create a highly complementary daytime schedule offering great programming from 6am to 6pm.”

GMTV has held the national Channel 3 breakfast-time licence since 1993, when it outbid the incumbent TV-am for the slot.
ITV Broadcasting has secured full ownership of GMTV after acquiring Disney’s 25% stake in a £22.5 million deal.

The agreement involves ITV making a one-off cash payment of £18m for Disney’s holding in the national breakfast-time Channel 3 licensee.
ITV will have to make a further payment of £4.25m to the US firm by the close of the year for GMTV’s remaining forecast cash balance.
The acquisition is part of ITV’s ongoing strategy to focus on its core broadcasting activities, and will also greater integrate the firm’s breakfast TV operations.