| NEW YORK/LONDON April 16
NEW YORK/LONDON April 16 Discovery
Communications has dropped out of bidding to buy
Britain's free-to-air Channel 5, according to two sources
familiar with the matter.
Discovery, which has been aggressively expanding outside of
the United States in television, had been in talks with British
Sky Broadcasting Group Plc over a possible joint bid,
according to media reports.
It was unclear on Wednesday whether BSkyB was still involved
in the process. Representatives from BSkyB and Channel 5 could
not immediately be reached for a comment outside of regular
Channel 5, which broadcasts "Big Brother," was bought by
Richard Desmond's Northern & Shell media group in 2010 for 103.5
million pounds and made a profit of 20.6 million pounds in the
first half of 2013, up from a loss of 16.1 million a year
Media reports in January said Desmond had hired Barclays to
look for buyers for the television network and was expecting to
raise about 700 million pounds.
(Reporting by Liana B. Baker in New York and Karen Rebelo in
London; Editing by Cynthia Osterman)