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ITV to hand shareholders £100m after striking £1.6bn Sky deal
['Henry Saker-Clark', 'Press Association Deputy Business Editor']
Irish News
ITV has revealed stronger revenues amid a boost from the World CupITV has said it will hand £100 million to shareholders following Sky’s £1.6 billion deal to buy the company’s media and entertainment business.
It came as ITV reported a boost to advertising revenues from the World Cup, helping to offset a £20 million hit from recently introduced rules about advertising less healthy foods.
On Friday, ITV said it would start a share buyback programme to hand £100 million to shareholders following the deal.
The media and entertainment arm being sold saw revenues rise 2% on the back of a 3% increase in total advertising revenues.
Advertising revenues accelerated in the second quarter after a boost linked to the World Cup, which “drove strong advertising and sponsorship demand”.