UK Sex Channels May Go Public

According to recent reports in the Daily Mail and Financial Times, Portland Television Ltd. may take its adult broadcast holdings public later this year.

Portland Television owns 25 cable and satellite channels, including Television X, GAYtv and Red Hot. Portland is a unit of Northern & Shell, a privately-owned company run by publishing magnate Richard Desmond.

Desmond recently appointed merchant banker Sir Angus Grossart as chairman of Portland TV. UK financial reports estimated Portland's market value at up to $429 million.

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