Private equity firms set to clinch Hallmark deal

Wednesday 23 February 2005 at 16:00

Private equity firms 3i and Providence Equity Partners are about to sign a $245m (€185.5m) deal to buy Hallmark Channel's non-US television operations, a source close to the deal said today.

The private equity consortium, advised by Rothschild, is backing David Elstein, the former chief executive of Five, the fifth terrestrial TV in the UK.