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- Author
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Schmuckler, Eric and Gubernick, Lisa
- Subjects
MERGERS & acquisitions ,TELEVISION broadcasting - Abstract
The article reports that Great Britain-based Thames Television Ltd. is planning to buy troubled Reeves Communications. The deal's rumored price is $100 million. Thames' biggest asset is its government-awarded franchise to air weekday independent television in the London, England area. That franchise, along with all others in British TV, goes up for grabs in 1992. Thames wants to diversify out of its home market. Trouble is, Thames wouldn't get much for its $100 million. Last fiscal year Reeves' revenues dropped nearly 30%, to $75 million; the company lost $2.5 million, versus a $6 million profit the year before.
- Published
- 1989