The Television Corporation is to offload outside broadcast business, Visions, to American company NEP for£16.8m, marking its withdrawal from the facilities market.
The Television Corporation is to offload outside broadcast business, Visions, to American company NEP for £16.8m, marking its withdrawal from the facilities market.

The sale, expected to be given the final go-ahead by shareholders at the TV Corp's EGM on 19 January 2005, ends TV Corp's aim of shedding auxiliary television services and facilities.

TV Corp announced in March that it planned to raise £6m to reduce short-term borrowing to focus upon content creation with its production arms Sunset and Vine and Mentorn, which produces programmes such as Question Time.

Visions recorded a turnover of £14.4m in 2003 with a £800,000 pre-tax profit, down on £1.2m in 2002, when it enjoyed increased business domestically with the Commonwealth Games. Visions provides outside broadcast trucks and facilities for the Barclaycard Premiership, Channel 4's racing and cricket coverage and supplies coverage of Wimbledon and the French Open to American sports network ESPN.

NEP is a US provider of mobile production facilities, television studios and television production planning and engineering related services.

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