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Applications for reviews of financial terms for Channel 3 and Channel 5 Licences

Section 225 of the Communications Act 2003 allows for Channel 3, Channel 5 and Public Teletext licensees to apply to Ofcom for optional reviews of their financial terms for payments to the Treasury.

Ofcom agreed earlier this year to offer Channel 3, Channel 5 and Public Teletext licensees the opportunity to bring forward the earliest date they can apply for a financial review to 31 December 2004.

The following Channel 3 licensees have now applied for a financial review:

Anglia Television Limited
Border Television Limited
Carlton Broadcasting Limited
Central Independent Television Limited
Grampian Television Limited
Granada Television Limited
GMTV Limited
HTV Group Limited
LWT (Holdings) Limited
Meridian Broadcasting Limited
Scottish Television Limited
Tyne Tees Television Limited
Ulster Television plc
Westcountry Television Limited
Yorkshire Television Limited

Channel 5 Broadcasting Limited has also applied for a financial review of its Channel 5 licence.

Ofcom expects to determine new terms for these licensees by the end of June 2005. For licensees who accept these terms, the new terms will be applied retrospectively from 1 January 2005.

Channel Television has not applied for a review of its financial terms of its Channel 3 licence. Teletext Limited has not applied for a review of its Public Teletext licence. Licensees who did not apply for a review of their financial terms may choose to do so at a later date.

The valuation methodology for the review of the financial terms was set out in a Statement published by Ofcom on 13 October 2004, available at www.ofcom.org.uk/consult/condocs/channel3_consultation/c3mstatement.pdf

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