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Just eight months after it was launched, is UTV Ireland about to be sold?

Something’s brewing, but the company isn’t giving much away.

UTV MEDIA HAS confirmed that it is in talks to sell off its television assets after speculation that ITV are planning a buyout.

In statement released this morning to the Irish and London stock exchanges, the company confirmed that it is in talks about “a potential sale of its television assets”.

“Discussions are ongoing and may or may not result in such a transaction being agreed,” the short statement added.

The company made their position public after the Belfast Telegraph reported on Saturday that ITV was looking at buying UTV’s TV division.

UTV and ITV are separate businesses but UTV has the franchise to show ITV shows in Northern Ireland.

PastedImage-81313 UTV Media's shares rose 9.42% on the LSE this morning following the sale speculation

The Belfast Telegraph report added that it’s unclear whether or not the newly launched UTV Ireland would be included as part of any buyout.

This morning’s statement from UTV Media does not provide any specific details on this, referring only to the group’s ‘television assets’.

In June, UTV Media estimated that losses at UTV Ireland for 2015 are expected to reach £11.5 million (€16.3 million).

As well as its interests in television, UTV Media owns over 20 radio stations across Ireland and Britain including FM104 in Dublin and talkSPORT across the UK.

The company will announce its results for the first half of this year later this week.

Read: What on Earth is going on at UTV Ireland? We had 12 questions for the station’s chief >

Read: Things are not quite going to plan inside UTV Ireland >

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About the author:

Rónán Duffy

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