LONDON -- Adam Crozier, chief executive of the U.K.'s leading commercial channel ITV, has said the company will not be among the bidders for rival free-to-air network Channel 5.
First round bidding for Richard Desmond's Channel 5 starts Thursday, with BSkyB and Discovery mulling a joint bid, according to the Financial Times.
Proï¬ t after tax was up 28% to Â£330 million ($551 million).
The results failed to impress investors and ITV stock dropped 3% to 199.9 pence ($3.34) by midday in London. However, the stock is up 72% on a year ago.
U.K. Broadcaster ITV Rules Itself Out of Bidding for Rival Channel 5
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