Disney casts eye over UK broadcasters
09/10/02 13:33 ET
LONDON (Reuters) -- Walt Disney Co. is casting an eye over British broadcasters ahead of a relaxation in UK media ownership rules but feels they are still too expensive, Walt Disney TV International's chief said Tuesday.
Deregulation currently under consideration by the UK government could potentially open the way for foreign media groups to buy British broadcasting assets such as the leading commercial television network ITV and its rival Channel 5.
"We are looking but not actively looking. We need time to look at our strategy and see how this new bill develops," Walt Disney Television International's President David Hulbert told a television conference in London.
"We are always looking, but UK TV assets are fully priced at the moment," he added.
Hulbert's comments echoed those of AOL Time Warner Inc. CEO Richard Parsons who earlier told the conference that his company was interested in establishing a presence in the deregulating UK media market, but that there was unlikely to be a "stampede" in bidding at current asset valuations.
Britain's main commercial broadcaster, ITV, is controlled by two companies: Carlton Communications and Granada. Its rival Channel 5 is controlled by Europe's biggest broadcaster RTL Group, but its parent has said it is not interested in selling.
09/10/02 13:33 ET
LONDON (Reuters) -- Walt Disney Co. is casting an eye over British broadcasters ahead of a relaxation in UK media ownership rules but feels they are still too expensive, Walt Disney TV International's chief said Tuesday.
Deregulation currently under consideration by the UK government could potentially open the way for foreign media groups to buy British broadcasting assets such as the leading commercial television network ITV and its rival Channel 5.
"We are looking but not actively looking. We need time to look at our strategy and see how this new bill develops," Walt Disney Television International's President David Hulbert told a television conference in London.
"We are always looking, but UK TV assets are fully priced at the moment," he added.
Hulbert's comments echoed those of AOL Time Warner Inc. CEO Richard Parsons who earlier told the conference that his company was interested in establishing a presence in the deregulating UK media market, but that there was unlikely to be a "stampede" in bidding at current asset valuations.
Britain's main commercial broadcaster, ITV, is controlled by two companies: Carlton Communications and Granada. Its rival Channel 5 is controlled by Europe's biggest broadcaster RTL Group, but its parent has said it is not interested in selling.