DCD Media to sell Matchlight subsidiary

DCD Media issued a statement on Tuesday confirming media speculation that it has agreed to sell Matchlight, its Glasgow-based production business.

It said it "does not consider [Matchlight] to be material to the group on an ongoing basis".

Completion of the sale remains subject to a number of conditions, it said.

It added that if it does go ahead the board expects to maintain a continued strong relationship with Matchlight given that DCD Rights will retain a long-term option over Matchlight's distribution rights.

More details will be provided at a later date, the company said.

Shares in the group had jumped 13.68% to 270p by 11:13.

NR