WH
No, is the short answer. And Yes is the long answer.
The long answer is far more interesting. Basically Granada Compass, which was the group that held all the service stations/hotels/Granada Media Group wanted to sell their TV interests at the start of the 21st century.
However, by selling it they would've been faced with £1.5 billion capital gains tax bill, so they drew up a complicated demerger process which saved them the huge bill.
So in effect, it wouldn't have been a good idea to have sold their TV interests due to the huge tax bill, but they did divest their TV interests via another route. The Granada that owned the service stations etc still does exist, albeit without any Granada branding, and it was the TV division which was spun off (in effect, 'sold').
Whataday
Founding member
This brings me to an interesting point I often ponder.
By the 90s, cash-rich Granada had invested into several 'non-core' businesses such as motorway service stations and theme parks. These were all sold (in the case of the theme parks, at far below their face value) in the late 90s and early 00s to free up cash, allowing Granada to compete effectively in the 'smash and grab' days of purchasing other franchisees and ultimately become the behemoth that is ITV plc.
Would Granada be a better business today if they had actually sold their television interests for a healthy price, and maintained their other interests?
By the 90s, cash-rich Granada had invested into several 'non-core' businesses such as motorway service stations and theme parks. These were all sold (in the case of the theme parks, at far below their face value) in the late 90s and early 00s to free up cash, allowing Granada to compete effectively in the 'smash and grab' days of purchasing other franchisees and ultimately become the behemoth that is ITV plc.
Would Granada be a better business today if they had actually sold their television interests for a healthy price, and maintained their other interests?
No, is the short answer. And Yes is the long answer.
The long answer is far more interesting. Basically Granada Compass, which was the group that held all the service stations/hotels/Granada Media Group wanted to sell their TV interests at the start of the 21st century.
However, by selling it they would've been faced with £1.5 billion capital gains tax bill, so they drew up a complicated demerger process which saved them the huge bill.
So in effect, it wouldn't have been a good idea to have sold their TV interests due to the huge tax bill, but they did divest their TV interests via another route. The Granada that owned the service stations etc still does exist, albeit without any Granada branding, and it was the TV division which was spun off (in effect, 'sold').