UTV, the owner of TalkSport and the Northern Irish ITV franchise, has had mixed success in its attempt to raise an extra £50m through a share rights issue.
In a statement this morning, the broadcaster said less than half (41.5 per cent) of shareholders had agreed to buy the new discount-price shares.
Two stockbrokers, Numis and Goodbody, which agreed to act as underwriters for the fundraising attempt, have taken on the 22 million unsold shares and are now looking for buyers.
Update: Investment company TVC Holdings has acquired an 11 per cent stake in the company, becoming its singlest largest shareholder.
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