2020 European Football Championship postponement

Released : 17 Mar 2020 14:28

RNS Number : 4895G

ITV PLC

17 March 2020

17th March 2020

2020 European Football Championship postponed until 2021

UEFA have today announced that the 2020 European Football Championship (Euro 2020) is being postponed until 2021. The direct impact will be to reduce ITV's schedule costs in 2020 by £40m to £50m, including the cost of replacement programming. There will be no loss of sponsorship revenue as the tournament is pre‐sponsored. We look forward to broadcasting the Euros and providing a significant marketing opportunity for advertisers in 2021, a year which does not have any other large sports tournament.

ITV continues to closely monitor the implications of the Coronavirus and will update the market further as appropriate. Our priority remains to protect our people. Currently ITV's guidance for March and April advertising revenue has not changed.

As we stated at the full year results, ITV has good access to liquidity. We have £830m of undrawn facilities and no bond repayments until September 2022.

For further enquiries please contact:

Investor Relations

Pippa Foulds

+44 7778 031097

Faye Dipnarine

+44 20 7157 6581

Media Relations

Paul Moore

+44 7860 794444

Grant Cunningham

+44 7764 210742

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.comor visit www.rns.com.

END

STRBSGDXXDBDGGR

Attachments

  • Original document
  • Permalink

Disclaimer

ITV plc published this content on 17 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2020 14:34:03 UTC