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OK! Publisher Buys Channel Five; Ex-Domino EIC To Top Spot at WSJ.
July 27, 2010
Richard Desmond expands his empire. The publisher of OK! and multiple British tabloid newspapers pays $161 million for channel Five. The free station, currently owned by RTL, airs reruns of U.S. television series. The mogul will have his work cut out for him to revive the channel that lost almost $15 million last year and saw net advertising revenue plummet 23 percent. "Everyone caught a cold last year, but Five caught a particularly nasty flu," Tim Westcott, an analyst at Screen Digest, a research firm, told The New York Times. The solution might be to focus more on celebrity, which would dovetail ...
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