The UK’s move towards turning off terrestrial TV and radio could put the future of Arqiva in danger, according to reports.
Last week, the company’s main shareholder Digital 9 Infrastructure (D9) announced to the stock market that its almost 52 per cent stake in Arqiva is now thought be worth nothing, reports The Telegraph.
In a statement, D9 said the company’s equity interest in Arqiva was expected to fall below the value of the vendor loan note used to fund its acquisition from Canada Pension Plan Investment Board in October 2022.
“D9 will continue to work actively with Arqiva’s management on initiatives aimed at outperforming the business plan, supporting capital‑structure optimisation, and progressing opportunities that may enhance valuation over time,” added the company.
Macquarie has also sold off its 26.5 per cent holding in the business.
Arqiva operates around 1,500 masts used by UK broadcasters to carry TV and radio to audiences.
Broadcast TV is set to continue until at least 2034 under legislation currently in place.
