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DMGT’s A&N Media is selling a majority stake of Teletext, the once-influential UK TV text service which was unable to profitably move in to interactive content, to its management.
After 15 years, the publisher switched off Teletext‘s content operation on both analogue and digital TVs in December 2009, since when it has operated only commercial services – holidays, racing, dating, car ads, gaming and SMS alerts.
A&N, which also publishes Mail Online, says Teletext made a small loss in the year ending October 2, on £11 million revenue.
It did not disclose the sale price nor size of the stake sold. paidContent has reached out to the company.
DMGT was fined £225,000 by Ofcom for shutting Teletext before its license was due to expire in 2014. Losses have since improved.
In a sign of where DMGT’s priorities lay nowadays, it announced at the same time that Hobsons, inside its DMG:Information, its education unit, is buying a higher education relationship management provider, Intelliworks, for $13 million.