Shareholders conclude new YouView funding agreementTuesday, March 1st, 2022
New Shareholder Agreement with YouView TV Limited (“YouView”)
This disclosure is being made in accordance with Listing Rule 11.1.10 R due to the fact that ITV Broadcasting Limited (“ITV”) is entering into a transaction with the BBC, which is deemed to be a related party of ITV plc under the Listing Rules.
ITV, the BBC, BT, Channel 4, TalkTalk and Channel 5 have agreed a new shareholders’ agreement for YouView which sets out, amongst other things, the governance and funding arrangements of YouView. YouView is an existing joint venture in which ITV has been a shareholder since 2010. YouView develops and maintains the software for the YouView service, currently available from BT, TalkTalk and certain Sony TVs.
Pursuant to the new agreement, ITV and the BBC have each committed to contribute £750,000 to YouView each financial year from 1 April 2022 to 31 March 2024. This mirrors ITV’s current annual funding obligations to YouView.