Fincham buys ITV shares
- Published: 25 September 2008 17:16
- Author: Kate McMahon
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- Last Updated: 26 September 2008 19:07
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ITV director of television Peter Fincham has bought up 350,000 shares in ITV plc – his first stake in the company.
Fincham paid 42.75p per share on 24 September, totalling a fraction under £150,000 for a 0.009% stake in the commercial broadcaster. The purchase was announced to the London Stock Exchange today.
The shares are held jointly in his name and his wife's.
The acquisition was announced as Ofcom revealed in the second stage of its Public Broadcasting Review that it would be in favour of ITV reducing its PSB commitments, including cutting regional news services and halve the amount of "non news" programmes in Wales, Scotland and Northern Ireland.
ITV shares climbed to a high of 46.25p this morning on the back of the announcement, but at 4pm were trading at 44.5p – a 4.14% increase from yesterday's close of 42.25p.
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