Richard Desmond sells his adult TV channels

Northern & SRichard Desmond has sold his adult TV business, including the Television X and Red Hot channels, severing his last link with the adult entertainment industry that helped the Daily Express and Daily Star owner make his fortune.

Desmond’s company, Northern & Shell, announced on Friday it had sold its adult broadcasting arm, Portland Television, in a management buyout worth less than £1m, 12 years after he sold his adult magazines.

The deal also marks Desmond’s complete exit from the UK television industry following the sale of Channel 5 to Viacom for £463m in 2014.

For the full story read The Guardian