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Man Utd buy ITV share in MUTV

ITV have ended their interest in the football industry after selling their one-third stake in MUTV to Manchester United.

The sale finally draws a line under ITV's interest in the football industry, a legacy of the late 1990s when media companies hoped to share in the boom for football rights.

Earlier this year, ITV sold its stakes in Arsenal and Liverpool football clubs for a combined return of £82m. However, it is still to complete the sale of its interest in Arsenal and Liverpool's broadband businesses.

United now own two thirds of their TV channel, MUTV, with the remaining third owned by Sky Ventures, a subsidiary of pay-TV giant BSkyB.

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