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Desmond close to Five deal
Express and Star newspaper owner Richard Desmond has emerged as the preferred bidder to buy RTL Group’s UK channel Five. It is thought that the group has moved closer to securing a deal with Desmond, but nothing has been signed. RTL has been seeking a solution to Five’s monetary problems for over a year after the channel had been hit hard by the fall off in advertising revenue. It is understood that Desmond has offered to pay around £100m for Five.