Dublin-listed investment company TVC Holdings has increased its stake in UTV Media by buying another 4% of the broadcaster.
This additional investment brings TVC's total stake to 15%. It has paid £19.5m (€24.8m) to become the media group's largest shareholder. TVC announced earlier this week that it had bough 11% of UTV for €19m.
The company said the investment reflected its strategy of buying significant stakes in public and private companies across a range of sectors, mainly in the UK and Ireland.
TVC's existing portfolio includes the publicly-quoted company Norkom and the Quality/Comfort Inn hotel chain, led by Pat McCann, the former boss of Jurys Doyle Group.
