Carlton targets 'lifestyle' for cable TV
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Carlton, Michael Green's media company, plans a new strand of lifestyle programming for Cable Select, its cable channel, and is aiming to nearly double the number of hours it broadcasts on cable television.
The new service, which might run from noon until 5pm, is likely to feature food shows, home decoration and other "lifestyle" themes attractive to daytime audiences, much of it original programming produced at the company's Nottingham studios. The new service would precede the current schedule of evening programmes, which include repeats of Birds of a Feather and Lovejoy.
The project is part of Carlton's declared intention to grow organically, rather than through big, often expensive acquisitions in the media sector.
"Whilst the opportunities for investing beyond our existing business may be extensive, the prices required are often very demanding," Michael Green said in a statement yesterday as he announced interim profits ahead 19 per cent to pounds 143m in the six months to 31 March. Mr Green added that recent investments in television, including TV stations in France, India and Singapore, were an example of exploring "the tangible opportunities [that] lie within our existing businesses".
Mr Green warned analysts against expecting a big acquisition in the near future. Carlton has been suggested as a predator for many potential media targets, most recently HTV, ITV franchise-holder for Wales and the West, and Mirror Group, publishers of the Mirror newspaper titles.
The sector has been rife with takeover speculation in advance of further liberalisation of ownership rules, as promised in the new Broadcasting Bill.
Carlton is also a partner, with Mirror, in a consortium bidding for the rights to the Premier League. But it is understood the group is offering a revenue-sharing deal with the 20 League clubs, and would not necessarily put up much of the pounds 800m over five years expected to be generated by the new rights deal.
Analysts were surprised by the strength of profit growth in the first half, which was struck on turnover up 6 per cent to pounds 847.8m, and many upgraded their forecasts for the full year.
The video and sound products division saw operating profits climb 46 per cent to pounds 20.5m and has a strong order book for the second half.
Elsewhere, the film and television services division rode the increase in Hollywood film output to post operating profits ahead 33 per cent at pounds 26.3m.
The strong profit performance was in spite of flat results from the broadcasting division.
Investment Column, page 22
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments