After England's shock exit from the Rugby World Cup, broadcaster ITV (ITV) could certainly use some luck of the Irish. The X Factor broadcaster is set to acquire peer UTV (UTV)'s television assets for £100m, freeing the Irish broadcaster to focus on its radio and online offerings.
IC TIP:
Buy
at
250p
UTV's television business posted a loss of £3.9m - before tax and finance costs - in the first half of 2015. That reflected the launch of UTV Ireland, a dedicated Republic of Ireland channel that has been slow to build an audience. Management plans to use the deal proceeds to pay off debts and fund a cash return to shareholders.
Broker Liberum expects EPS of 16.9p this year, up from 14.2p in 2014.
