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- Local TV Ltd, owned by David Montgomery, is acquiring the London Live licence from Lord Lebedev.
- The deal aims to strengthen Local TV's position in the UK, increasing its market share.
- With this acquisition, Local TV could enhance content and viewership in London.
In the UK, a significant shift in the television landscape occurred as Local TV Ltd, largely owned by media entrepreneur David Montgomery, is set to acquire the licence for a London-based TV station from Lord Lebedev, who owns the Standard newspaper. This deal marks a pivotal moment as Montgomery's acquisition aims to bolster Local TV's presence in the competitive locally broadcast television market, already holding channels that target cities like Birmingham, Leeds, and Cardiff. The agreement aligns with Montgomery's strategy to enhance Local TV's footprint, which currently services over five million households across the UK. Previously, London Live, established in 2014 by Lord Lebedev, faced financial challenges, reportedly losing over £20 million since its inception. As a result, the owner sought to divest the station. Sources indicate that this acquisition will elevate Local TV's market share to approximately 60%, allowing them to become a formidable player in regional broadcasting. The operational side of Local TV is led by Chief Executive Lesley Mackenzie, while Montgomery himself has experience in high-profile media negotiations, having previously made bids for The Daily Telegraph. Tim Kirkman, the managing director of London Live, declined to provide insights on the transaction when approached by Sky News, and Local TV representatives were unavailable for immediate comments. This transition may result in a shift in programming and strategy as Local TV integrates the assets of London Live into its existing operations, reinforcing its local focus within the capital. Overall, this acquisition reflects ongoing consolidation trends within the media industry and the need for regional broadcasters to adapt to evolving market conditions. The successful integration of London Live into Local TV's portfolio could enhance content offerings for viewers in London as Montgomery's leadership continues to reshape the future of local broadcasting.