Daily Express owner Richard Desmond has sold his adult TV channels in a six-figure management buyout deal, severing his links with the adult entertainment business.
The deal means that Northern & Shell, Desmond’s parent company for his media assets, has also moved completely out of the TV business, as it follows the sale of Channel 5 to Viacom for £463 million two years ago.
Portland Television, which was set up in 1995, is made up of Televison X, Red Hot and three other adult channels which are broadcast on Sky, Freeview and Virgin Media.
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