It has just been announced that London Weekend Television has taken over a major shareholding in Yorkshire Tyne Tees Television, as well as taking on the airtime sales contract for the ITV station (YTT’s airtime will be sold in conjunction with LWT’s airtime by Laser Sales Limited, which since February 1993 has been a wholly owned subsidiary of LWT).
LWT believes that the takeover of YTT’s sales will enable its sales team to improve the station’s advertising revenue share, hence enhancing perform- ance. The airtime sales contract has a minimum term of five years, and LWT plans to begin negotiations for the sale of 1994 airtime this autumn.
“We have great confidence in the ability of our sales team to increase YTT’s advertising revenue share, which will benefit LWT through the airtime sales contract and enhance the value of our investment in the company” says LWT chairman, Sir Christopher Bland.
Yorkshire-Tyne Tees announced a pre-tax profit of £3.8m for the six months to March 31 1993.
