28 December 2016
STV Group plc
Statement re Airtime Sales Agreement
STV Group plc today announces that agreement has been reached with ITV plc on an amendment to the Airtime Sales Agreement which covers airtime and sponsorship sales.
This updates the terms of the Agreement that has been in place since 2000. The duration of the amended agreement has been extended from a rolling 5-year term to an 8-year term.
Rob Woodward, Chief Executive Officer, said: "Following a market review we are pleased to have concluded the terms of an amended Airtime Sales Agreement with ITV. This represents a modernised trading arrangement designed to support our multi-product commercial offering. This simplifies our relationship with ITV and will provide increased efficiency, transparency and stability for the management of our airtime and sponsorship sales in the long term."
Kelly Williams, ITV's Managing Director of Commercial, said: "We have a long-standing relationship with STV and we look forward to continuing with our successful partnership."
Ends
Enquiries:
STV Group plc
Eleanor Marshall, PR & Communications Manager
Tel: 0141 300 3670
