Discovery Is Said to Drop Out of Bidding for U.K.’s Channel 5
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Discovery Communications Inc. dropped out of the bidding process for U.K.’s Channel 5, according to a person with knowledge of the matter.
Discovery offered about 350 million pounds ($588 million) for the broadcaster owned by Richard Desmond’s Northern & Shell, said the person, who wasn’t authorized to speak publicly and asked not to be identified. The TV station that airs “Britain’s Crime Capitals” and “Celebrity Big Brother” may sell for more than 400 million pounds, the person said.