Montgomery-Backed Local TV Acquires Lebedev’s London Live Licence
Local TV Ltd, led by David Montgomery, is set to acquire the London Live licence from Lord Lebedev, enhancing its market presence.
London, UK, Local TV, David Montgomery, Lord Lebedev, London Live
London: So, guess what? Local TV, which is mostly owned by David Montgomery, is about to grab the licence for London Live from Lord Lebedev. Pretty exciting stuff, right?
Sky News is saying that Local TV Ltd, which Montgomery picked up back in 2017, is on the verge of sealing the deal. They’re looking to take over the London Live station, which has been around since 2014.
Now, here’s the kicker: Lord Lebedev has been thinking about selling London Live because it’s lost over £20 million since it started. Ouch!
One insider mentioned that if this deal goes through, Local TV will control about 60% of the local TV market. They already have channels in places like Birmingham, Leeds, and Cardiff.
With eight channels reaching over five million homes in the UK, they’re definitely making a name for themselves.
Montgomery, who used to work with Mirror Group Newspapers, has also been eyeing The Daily Telegraph. He even met with Todd Boehly, who co-owns Chelsea FC, to chat about teaming up for a bid.
When Sky News tried to get a comment from Tim Kirkman, the managing director of London Live, he didn’t say much. Local TV was also unavailable for a chat.