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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
