Catalyst Media, which owns a 21% stake in Satellite Information Services and its OB facilities company SIS LIVE, could be sold as part of a strategic review by the Group’s board.
No reason for the decision has been made public. A statement from the company simply read: “The Board of CMG announces that it has commenced a review of its strategic options. This could include the sale of CMG.”
Catalyst Media has appointed Rothschild as financial adviser to advise the board through the process
Experts estimates that the stake could be worth as much as £30m.
Other SIS shareholders include the bookmakers Ladbrokes and William Hill.
SIS provides services to betting outlets in the UK and Ireland, producing and distributing live coverage of horseracing and greyhound racing.
The company also produces the “At The Races” channel on the Sky.
The SIS Group acquired the BBC Outside broadcasts business for £21m in April 2008.
Now called SIS LIVE it recently agreed to buy competitor O21 Television for an undsisclosed fee.