United Business Media plc: Sale of SDN Shareholding to itv for GBP35 Million

United Business Media plc: Sale of SDN Shareholding to itv for GBP35 Million

LONDON, April 27/PRNewswire-FirstCall/ -- The Board of United Business Media plc ("UBM") announces that it has sold its shareholding in SDN Limited ("SDN") to itv plc ("itv") for a net consideration of approximately GBP35 million in cash.

SDN is a UK digital terrestrial television ("DTT") multiplex operator which holds the licence from Ofcom to broadcast DTT channels over specified band-widths. Its customers include Channel 5, the BBC, QVC, Sit up TV, Teletext, Disney and Turner Classic Movies. SDN had three shareholders: UBM, NTL Broadcast (MUKBL Digital Limited ("MUKBL")) and S4C Digital Media Limited ("S4C").

UBM's 33% shareholding in SDN was a non-core part of its businesses. Under the provisions of the SDN Shareholders' Agreement and Articles of Association, UBM and S4C exercised pre-emption rights in relation to MUKBL's shareholding in SDN and subsequently entered into a definitive agreement with itv to sell SDN for approximately GBP134 million including net debt assumed of GBP33 million, subject to adjustments to reflect SDN's working capital balances and other potential consideration adjustments.

For the year ended 31 December 2004, UBM's share of SDN's profit was GBP1.3 million. The transaction is expected to have a minimal impact on UBM's earnings per share in 2005.

Dresdner Kleinwort Wasserstein acted as financial adviser to UBM and S4C on this transaction.

Notes to Editors:

United Business Media plc (http://www.unitedbusinessmedia.com) is a leading provider of business information services to the technology, healthcare, media, automotive, financial services and property industries. UBM offers services in news distribution, market research, publishing and events to customers across the globe. Its brands include PR Newswire, the world's leading corporate news distribution service and CMP, the B2B media and exhibition group operating in high tech, healthcare, property, entertainment, jewellery & fashion in the US, UK, Asia and Europe.

This press release includes statements which are not historical facts and are considered "forward-looking" within the meaning of Section 27 of the Securities Act of 1933, as amended. These forward-looking statements reflect UBM's current views about future events, business and growth strategy and financial performance. These forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate," "on target" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from UBM's expectations. UBM expressly does not undertake any duty to update forward-looking statements. Management does not attempt to update forecasts unless conditions materially change.

Source: United Business Media Plc

For further information, please contact: Michael Waring, United Business Media, +44-(0)20-7921-5031; Colin Browne, The Maitland Consultancy, +44-(0)20-7379-5151

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