Investor Relations
News Detail

29th Jan 2004

INM sells stake in Chorus to Liberty Media

Independent News & Media PLC ['INWS.I'] announced today that it has formally agreed to sell its 50% interest in its Irish cable operation, Princes Holdings Limited (trading as 'Chorus'), to Liberty Media International for an undisclosed sum.

Independent had previously confirmed that it did not intend to hold its investment in Chorus for the long-term, as it was no longer core to its operations. Following completion of this sale agreement, Chorus will be fully owned by Liberty Media International, which owns a large array of cable TV and programming interests around the world.

ENDS 29 January 2004

For reference:

James Parkinson, Executive Director, Independent News & Media PLC, +353 1 4663200

Jim Milton/Pat Walsh, Murray Consultants Ltd, +353 1 4980300/+353 87 2269345

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“Independent News & Media has always understood that beyond being a very successful company in the financial sense, it has broader social responsibilities to all those communities where it operates. This is demonstrated by over 200 projects and charities which the company has underwritten and supported and can be seen from the work that INM has done in education, particularly the work they’ve done in health education in South Africa in relation to HIV and AIDS.”

Baroness Margaret Jay, Non-Executive Director
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