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PA Holds On To Sport Unit, Offers ‘Did Not Match Criteria’

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After considering selling the business due to spiraling costs of sports tournament rights, The Press Association has now decided to hand it on to its PA Sport unit. PA began a review of the unit in March, leading to a possible sale or outside investment, complaining tighter restrictions from sports bodies was hampering its right to resell photos. PA got offers from both private equity and the business at large but: “They do not meet the criteria set out at the beginning of the process and therefore it is in the best interests of shareholders and customers to retain ownership of the business.” Release.