RTL has put its£30 million-pound-a-year transmission services company LPC (London Playout Centre) up for sale after deciding that it is no longer "core business", writes Will Strauss.
The London based facility, formerly known as Pearson Television, has been made available as a going concern and information, including top level accounts, has already been circulated to prospective buyers. LPC staff were informed of the decision in a statement last week.
LPC managing director Maurizio Cimelli said that enquiries from parties interested in buying the company have been turned away over the last year, and that both RTL and LPC "now want to go through the proper process to see how much interest there really is."
Cimelli refused to put a value on the company. LPC's technical facilities turnover before tax for the year ending 31 December 2002 was more than£30 million pounds. Its net assets for the same period were worth£17.1 million. LPC, which also provides studio and post-production services, employs around 300 staff.