UK’s Channel 5 ‘considers sale’

The owner of UK broadcaster Channel 5 (C5) is reportedly considering selling the network after appointing advisors to explore the possibility.

Barclays has been brought in to assist proceedings, according to the Financial Times, which said that the network could generate around £700m (US$1.16bn) for parent Northern & Shell.

Richard Desmond’s media group paid £103.5m for C5 in 2010, buying it from RTL Group. It has since revamped the channel’s schedule, with shows including Big Brother and US dramas such as Under the Dome and Mark Burnett’s The Bible.

C5 reported a profit of over £20m in the first six months of 2013, versus a loss of £16.1m during the same period in 2012.

Representatives for C5 had not responded to requests for comment by the time of publication.