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Read this: Richard Desmond to announce sale of Channel 5 to US broadcaster Viacom - Media -

Summary: Richard Desmond, owner of the Daily Express and Daily Star, is selling Channel 5. The deal is short of the typically aggressive 700m-plus target originally set by Desmond, the owner of the Daily Express and Daily Star. It is not clear what Viacom will do with Channel 5's 350m-a-year TV ad sales business. -

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