Business
ITV announces investment in ismybillfair
ITV announces investment in ismybillfair.
About this update from Itv Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0658I\n ITV PLC\n 10 August 2021\n \n \n \n \n ITV announces investment in ismybillfair\n \n \n Latest addition to ITV's media for equity portfolio \n \n \n \n \n \n London, 10 August 2021\n \n \n \n \n \n ITV has concluded an investment in Nineteen21 Limited, which trades as ismybillfair.com. ismybillfair offers an online service that saves UK households time and money, by getting a fairer price for household bills from their current supplier, rather than having to go through the hassle of switching. The service is currently live for energy bills, with expansion plans into broadband. ITV is acquiring a minority stake valued at £1.25 million in return for advertising inventory across ITV's channels and the ITV Hub, with an option to invest a further £1.25 million. ITV reaches over 40 million viewers every week with its programmes on ITV's family of channels, as well as the ITV Hub, which is available on 35 platforms.\n \n \n Niko Waesche, Fund Manager of ITV AdVentures Invest, said: \"ismybillfair.com was launched by seasoned industry experts who understand the needs of both the energy providers as well as UK households so we liked this win-win proposition as soon as we heard about it. It's an extremely useful service for British consumers and we're looking forward to bringing it to a mass audience, and helping ismybillfair.com to grow, through ITV's unique reach.\"\n \n \n \n ismybillfair.com CEO and Co-Founder Alex Perrin states: \"We know most people would prefer to save money with their current suppliers, and not have to go elsewhere. Our aim is to become the leading household brand for saving without switching. ITV reaches more households than any other commercial TV group in the UK and, combined with its near-perfect match with ismybillfair's audience, we've found our ideal partner to fuel our growth.\" \n \n \n \n \n \n \n \n NOTES:\n \n \n \n \n \n 1. The investment will not be consolidated and will be held at its fair value on ITV's balance sheet.\n \n \n 2. In the unaudited accounts of Nineteen21 Limited for the year ended 29 February 2020, reported gross assets were £0.5m and the net loss was £0.4m.\n \n \n 3. This disclosure is being made in accordance with listing rule 10.4.1 as the parties have agreed to certain customary min...