UTV has said it expects the deal for the sale of its television interests to ITV to complete by the end of March, and possibly earlier, if it completes all the regulatory hurdles.
The Broadcasting Authority of Ireland approved the sale of the television stations in December, while the Consumer Protection Commission approved the deal earlier this month.
This paves the way for the Minister of Communications, Energy and Natural Resources to consider the proposed sale, the company said.
The sale is expected to result in net cash proceeds of £98m (€130m) of which it will return £55m to shareholders at a breakdown of 57 pence per share.
After the disposal of both UTV and UTV Ireland, the company said it will focus on its radio interests and said it plans to open three new stations in the UK.
The company said it has also identified cost savings of around £3m for next year and £1.6m for this year.
It said it has completed a strategic review of its local radio stations in the UK and it sold its youth station, Juice FM, for £10m.
Today's trading statement also said that trading for the year to the end of December has remained in line with the board's expectations.
