UTV Media plc (“UTV” or “the Company” or “the Group”)

ROBUST PERFORMANCE IN CHALLENGING MARKETS UTV DECLARES A 17% DIVIDEND INCREASE

Belfast, & – 19 March 2013: UTV Media plc announces preliminary results for the year ended 31 December 2012

Financial highlights on continuing operations* . Group revenue of £120.1m (2011: £121.6m) . Pre-tax profits of £21.0m (2011: £23.3m) . Group operating profit of £23.9m (2011: £26.8m) . Radio GB operating profit up 5% to £13.0m (2011: £12.4m) . Excluding International, Radio GB operating profit up 12% . Continued reduction in net debt to £49.4m (2011: £54.7m) . Net finance costs down by 13% to £3.0m (2011: £3.5m) . Diluted adjusted earnings per share from continuing operations of 16.92p (2011: 18.96p) . Proposed final dividend of 5.25p resulting in a full year dividend growth of 17% to 7.00p (2011: 6.00p)

* As appropriate, references to profit include associate income but exclude discontinued and exceptional items

Operational Highlights . talkSPORT signed deal for Barclays Premier League worldwide audio broadcasting rights to 2016 . talkSPORT acquired worldwide commercial radio rights to FA Cup and One Cup . Television and Radio Ireland revenues impacted by difficult economic conditions in Ireland . New Television Network Affiliate Agreement signed with ITV . Renewal process for Channel 3 Licence to 2024 agreed . Acquisition of Simply Zesty in March driving New Media revenue growth . Successful refinancing of bank facilities at competitive terms and pricing . Strong cash management and reduction in debt with Net Debt:EBITDA ratio of 1.91 times . Compliance with the provisions of the UK Corporate Governance Code following the appointment of a new Chairman and three new Non-Executive Directors to the UTV Board during the year

John McCann, Group Chief Executive, UTV Media plc, said: “This is a robust performance in what continues to be a challenging economic environment, especially in Ireland. We have maintained effective control over costs coupled with strong cash management and continued debt reduction while at the same time maintaining the market leading positions enjoyed by our media assets. We have also continued to invest in the development of our businesses, in particular the establishment of talkSPORT International; concluded the Network Affiliate Agreement with ITV; acquired and integrated Simply Zesty and proceeded with the renewal of the Channel 3 TV licence.

Reflecting our strong cash generation and our confidence in the future, we have increased the full year dividend by 17% and remain confident that the Group is well placed to maximise opportunities going forward.”

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Key Dates . 16 May 2013 – Annual General Meeting & Interim Management Statement

. 24 May 2013 – Record date for payment of dividends

. 15 July 2013 – Payment of dividends

. 27 August 2013 – Interim Results Announcement

. 15 November 2013 – Interim Management Statement

For further information contact:

Maitland

James Devas/Tom Buchanan +44 (0) 20 7379 5151

UTV Media plc

John McCann, Group Chief Executive +44 (0) 28 9032 8122

Norman McKeown, Group Finance Director +44 (0) 28 9032 8122

Orla McKibbin, Head of Communications +44 (0) 28 9026 2188

Investor Enquiries www.utvmedia.com/investors

2 UTV Media plc

Chairman’s Statement

Introduction am pleased to present my first Chairman’s Statement following my appointment on 30 July 2012. I was delighted and honoured to be appointed Chairman of your Company having admired its achievements for a number of years and I very much hope that my many years of media industry and plc board experience can bring long term benefit to the Company and its shareholders. The Group has a portfolio of high quality media assets in radio, television and digital media and a strong track record of outperformance. With revenues derived primarily from advertising and a fixed cost base, the businesses are strong cash flow generators and enjoy high levels of operational gearing. Advertising expenditure however, is closely aligned to the health of the economy and levels of consumer confidence. Football pundits on talkSPORT often refer to a “game of two halves”, meaning a game characterised by different fortunes in the first and second halves. To some extent, a similar sentiment applies to the advertising markets in which your Group operated in 2012. In particular, the positive effect of the Euro 2012 football tournament in the first six months was replaced by a lacklustre performance around the Olympics in the second half of the year. More generally, a stronger advertising market in the first half softened in the second six months to deliver an overall year on year performance which was slightly down but in line with market expectations. The volatile nature of the macroeconomic conditions continue to challenge all of us, but what remains constant, however, is the high quality of the leading media assets which the Group holds and which enable it to maintain a competitive advantage in the markets in which it operates. Results * A slight increase in Radio operating profit to £19.0m (2011: £18.9m) was more than offset by a fall in Television and New Media operating profits to £3.9m (2011: £6.4m) and £0.9m (2011: £1.5m) respectively. Group operating profit, therefore, was down 11 % at £23.9m (2011: £ 26.8m). After a net interest charge of £3.0m (2011: £3.5m) and foreign exchange of £0.2m (2011: £Nil). Group profit before tax and exceptional items was 10% lower than last year’s record £23.3m at £21.0m. Diluted adjusted earnings per share were 16.92p (2011: 18.96p). Refinancing In May 2012 we successfully refinanced our bank facilities for five years. The competitive margins and covenant headroom obtained reflect a highly cash generative business with a strong balance sheet. Dividend It is testament to the resilience of your company and the cash generative nature of its businesses that a dividend continued to be declared every year during the downturn despite the most difficult macroeconomic environment. For a few years that dividend was constrained by our objective to reduce debt. That objective still remains in place, but with net debt some 54% lower than at 31 December 2008, and with our net debt/EBITDA ratio below 2 times, your Board believes that it is appropriate to continue with its progressive dividend policy while maintaining a due degree of prudence during uncertain economic conditions. Accordingly, your Board is recommending a final dividend of 5.25p per share making a total for the year of 7.00p, which represents an increase of 17% over last year and a 75% increase from 2010. The final dividend will be paid on 15 July 2013 to all shareholders on the Register at the close of business on 24 May 2013. Radio * Our Radio GB division performed well in 2012, with a 5% improvement in operating profit to £13.0m (2011: £12.4m). Within this, talkSPORT’s performance was particularly strong, again outperforming the market in revenue growth and increasing its contribution to the Group by 26% before accounting for the expected operating losses of £0.9m (2011: £Nil) in its new international division. This international division has extensive audio rights agreements with the Premier League, the Football Association and the Football League, enabling it to exploit those rights on all audio platforms throughout most of the world. talkSPORT content in English, Mandarin, Spanish and Bahasa Malay, can now be heard in many different countries on both radio and other digital platforms, extending the talkSPORT brand beyond the UK. That brand, supported by our investment in sports rights and presenters, is of course now a household name within the UK with over 3 million listeners in our domestic market tuning in every week to listen to talkSPORT’s unique style of sports commentary and analysis. * As appropriate, references to operating profit include associate income but exclude discontinued operations and exceptional items. 3 UTV Media plc

Chairman’s Statement

Our local radio stations in GB attract 1.2 million listeners weekly by focussing on providing local content. That local content is attractive not only to local listeners, but also to local advertisers, a fact which the Competition Commission noted recently in its preliminary findings on the Global/GMG merger. However, while local advertising in 2012 performed strongly for us, up by 9%, national advertising on our local radio stations didn’t fare as well, decreasing by 9%. The Irish advertising market has declined much more severely than the GB market in the last few years. This trend continued in 2012 when the radio market is believed to have been down by 7% to 10%. However, the worst effects of this further market deterioration were countered by the continuing strong outperformance of our local radio stations in Ireland which recorded only a 1% reduction in advertising revenue in local currency. Outperformance has been, and remains, the keynote of our radio assets in Ireland which enjoy market leading audience positions in the major cities in Ireland. The audiences from our stations are aggregated with those of two independent local stations to create an “Urban Access” package for advertisers which now provides greater daily reach than the State broadcaster’s top national radio channel. With this reach also concentrated in the urban areas, we are able to provide a unique and attractive marketing proposition for our advertisers which drives our outperformance of the market. Adverse movements in the currency exchange rate resulted in our sterling-denominated Irish radio advertising revenue decreasing by 7%. As a consequence Radio Ireland operating profit was also down by 7% to £6.0m (2011: £ 6.4m). Television Two important long term strategic objectives were secured during the year. Firstly, in March we signed a new Network Affiliate Agreement with ITV plc which provides a stable commercial basis for the delivery of services, including programmes and new media, for the Channel 3 network. Secondly, in November, the Secretary of State for Culture, Media and Sport announced her agreement to engaging in the process for the renewal of our television licence for a further ten years from 1 January 2015 until the end of 2024. Together, these two agreements will help to underpin our ability to deliver a regional television service in for the long term. In Television, we maintained our outperformance in audience with a 25.9% share of the peaktime viewership compared to the ITV network average peaktime share of 21.3%. However, this was not translated into advertising outperformance due to the continuing decline in Irish television advertising. While we matched our network colleagues in our television advertising revenue from our London clients, we suffered a 12% reduction in our Irish television advertising, recording an overall reduction of 7% for the year. As a result, Television operating profit was down to £3.9m (2011: £6.5m). New Media Revenue in our New Media division increased to £12.3m (2011: £11.4m) with the inclusion of Simply Zesty from 5 March 2012. However, operating profit declined to £0.9m (2011: £1.5m), with a reduction in profitability at UTV Internet and the diversion of internal resources within Tibus to deliver a distribution platform for talkSPORT International, being the main contributory factors. In late 2012 into 2013 we restructured our digital assets to bring greater focus to the individual offerings. UTV Internet was rebranded as UTV Connect with a greater emphasis being placed on customer service rather than just price. Technical infrastructure formerly provided by UTV Internet is now being delivered by Tibus, which will focus on hosting and network services. The creative web development solutions previously offered by Tibus have been brought under the Simply Zesty brand. These changes are already having a positive impact on the overall profitability of the New Media division. Digital Platforms We made significant progress in 2012 in attracting audiences to our various digital platforms. At talksport.co.uk, unique user numbers grew by 45% to an average monthly figure of over 2.5 million, with monthly page impressions of more than 18 million. u.tv was re-launched with the introduction of a new mobile site and new downloadable Apps, resulting in a 38% uplift in traffic to the u.tv website. Across our portals dedicated to property, jobs and cars, traffic grew collectively by 55%, with PropertyPal further cementing its market leadership position as the most searched property portal brand in Northern Ireland. Emphasis continues to be placed on growing digital revenues across the UTV Media Group and strong revenue growth is envisaged for our digital and online assets in 2013.

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Chairman’s Statement

Prospects The significant improvement in revenue which talkSPORT has enjoyed over the last few years has been characterised by revenue spikes during the major sporting events. The absence of any major sporting event in the first half of 2013, therefore, will have a temporary negative effect when compared to the revenue boost from the Euro football tournament in 2012. However, this will be tempered across the year by the inclusion of the Lions Tour of Australia, for which talkSPORT has exclusive rights, with a further spike in revenue anticipated from the World Cup in 2014. First quarter 2013 revenue in our Radio GB division is expected to be down by about 6%. talkSPORT International development initiatives will see our multiple language live commentary services, and ancillary programming, delivered to more overseas markets in the form of both radio and digital distribution deals. Advertising revenue budgets in Ireland continued to be squeezed in the early months of 2013. This was felt most acutely in January and February and was exacerbated by advertising being cancelled as a result of civil disturbances in . The position is improving in March and in the first quarter of 2013 our Irish radio advertising is expected to be down by 6%. Our Television advertising revenue, helped by a more buoyant London market, is expected to be down by 1% in that three month period. The changes which we have implemented in our New Media division are already bearing fruit and in the first quarter of 2013, revenue is expected to be up by 12%. While the Irish economy is still fragile, nevertheless there is some encouraging commentary around recent economic data. Whether or not this translates into a confidence about a sustained economic recovery remains to be seen. What we can be confident about is the quality and strength of our broadcasting assets in Ireland and our ability, therefore, to leverage significant growth in our revenue from an Irish economic recovery. Board and People In my Interim Statement, I highlighted my immediate priority to restore the Board to full independence. Since that Statement, we have appointed three new, high calibre, independent Non-Executive Directors who bring both a wealth of experience, and complementary expertise, to the Board. We now have a strong, independent Board which is well equipped to lead the company through the next stage of its strategic development with the objective of maximising long-term shareholder value. Whilst we welcome our new Board members to the Company, we also say a sad farewell to our longstanding director, Roy Bailie who has served on the Board since 1996. It had been Roy’s intention to retire from the Board last year after completing the task of selecting the new Chairman. However, upon my appointment, Roy graciously acceded to my request to remain on the Board until May this year to facilitate the induction of the new members of the Board through his wealth of knowledge and experience of the company. I am immensely grateful to Roy for his sage advice and unfailing good humour and, on behalf of all the shareholders, I would like to thank him for the immense contribution he has made to the development of the UTV Group over the years. Finally, on behalf of all shareholders, I would like to thank our management and staff throughout the Group for their hard work, passion and commitment to the UTV cause over the past year in what has been a particularly challenging environment. We are very fortunate to have such a wonderful team of people working with us and I look forward to their continuing significant contributions to the future success of the Company.

Richard Huntingford Chairman 19 March 2013

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Group Income Statement For the year ended 31 December 2012

Results Results before before Exceptional Exceptional Exceptional Exceptional Items Items Total Items Items Total Notes 2012 2012 2012 2011 2011 2011 £000 £000 £000 £000 £000 £000

Continuing operations Revenue 2 120,105 - 120,105 121,551 - 121,551 Operating costs (96,383) - (96,383) (94,841) - (94,841) ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– Operating profit from continuing operations before tax and finance costs 23,722 - 23,722 26,710 - 26,710

Impairment of intangible assets - - - - (45,000) (45,000) Share of results of associates accounted for using the equity method 129 - 129 136 - 136 ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– Profit/(loss) from continuing operations before tax and finance costs 23,851 - 23,851 26,846 (45,000) (18,154)

Finance revenue 98 - 98 165 - 165 Finance costs (3,119) - (3,119) (3,653) - (3,653) Foreign exchange gain/(loss) 151 - 151 (15) - (15) ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– Profit/(loss) from continuing operations before tax 2 20,981 - 20,981 23,343 (45,000) (21,657)

Taxation 3 (4,407) (936) (5,343) (4,743) 1,142 (3,601) ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– Profit/(loss) from continuing operations after tax 16,574 (936) 15,638 18,600 (43,858) (25,258)

Discontinued operations Loss from discontinued operations - - - (213) - (213) ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– Profit/(loss) for the year 16,574 (936) 15,638 18,387 (43,858) (25,471) ––––––– ––––––– –––––– ––––––– ––––––– –––––– Attributable to: Equity holders of the parent 16,217 (936) 15,281 17,972 (43,858) (25,886) Non-controlling interest 357 - 357 415 - 415 ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– 16,574 (936) 15,638 18,387 (43,858) (25,471) ––––––– ––––––– –––––– ––––––– ––––––– ––––––

Earnings per share 2012 2011 Continuing operations Basic 4 16.05p (26.94)p Diluted 4 15.94p (26.94)p Adjusted 4 17.03p 19.08p Diluted adjusted 4 16.92p 18.96p

Continuing and discontinued operations Basic 4 16.05p (27.16)p Diluted 4 15.94p (27.16)p Adjusted 4 17.03p 18.86p Diluted adjusted 4 16.92p 18.74p

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Group Statement of Comprehensive Income For the year ended 31 December 2012

Note 2012 2011 £000 £000

Profit/(loss) for the year 15,638 (25,471) ––––––– ––––––– Other comprehensive income Exchange difference on translation of foreign operations (1,153) (2,328)

Actuarial loss on defined benefit pension schemes (4,568) (3,281)

Cash flow hedges: Loss arising during the year (188) (448) Less transfers to the income statement 551 550

Tax relating to other comprehensive income 3 854 783 ––––––– ––––––– Other comprehensive loss for the year, net of tax (4,504) (4,724) ––––––– ––––––– Total comprehensive profit/(loss) for the year, net of tax 11,134 (30,195) ––––––– –––––––

Attributable to: Equity holders of the parent 10,777 (30,610) Non-controlling interest 357 415 ––––––– ––––––– 11,134 (30,195) ––––––– –––––––

7 UTV Media plc

Group Balance Sheet For the year ended 31 December 2012

Notes 2012 2011 £000 £000 ASSETS Non-current assets Property, plant and equipment 11,910 11,273 Intangible assets 176,589 173,776 Investments accounted for using the equity method 104 126 Deferred tax asset 4,250 6,511 ––––––– ––––––– 192,853 191,686 ––––––– ––––––– Current assets Inventories 1,643 1,533 Trade and other receivables 25,163 25,857 Cash and short term deposits 7 10,958 7,205 ––––––– ––––––– 37,764 34,595 ––––––– ––––––– TOTAL ASSETS 230,617 226,281 ––––––– –––––––

EQUITY AND LIABILITIES Equity attributable to equity holders of the parent Equity share capital 55,557 55,557 Capital redemption reserve 50 50 Treasury shares (1,523) (1,523) Foreign currency reserve 6,018 7,171 Cash flow hedge reserve (251) (521) Retained earnings 28,680 22,414 ––––––– ––––––– 88,531 83,148 Non-controlling interest 480 469 ––––––– ––––––– TOTAL EQUITY 89,011 83,617 ––––––– ––––––– Non-current liabilities Financial liabilities 6 58,948 53,752 Derivative financial liabilities - 207 Pension liability 8 12,409 8,569 Provisions 800 766 Deferred tax liabilities 36,154 35,932 ––––––– ––––––– 108,311 99,226 ––––––– ––––––– Current liabilities Trade and other payables 26,033 31,948 Financial liabilities 6 4,292 8,167 Derivative financial liabilities 324 479 Tax payable 2,275 2,409 Provisions 371 435 ––––––– ––––––– 33,295 43,438 ––––––– ––––––– TOTAL LIABILITIES 141,606 142,664 ––––––– ––––––– TOTAL EQUITY AND LIABILITIES 230,617 226,281 ––––––– –––––––

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Group Cash Flow Statement For the year ended 31 December 2012

Note 2012 2011 £000 £000 Operating activities Profit/(loss) before tax (i) 20,981 (21,870) Adjustments to reconcile profit/(loss) before tax to net cash flows from operating activities Foreign exchange (gain)/loss (151) 15 Net finance costs 3,021 3,488 Share of results of associates (129) (136) Amortisation and impairment of intangible assets 71 45,000 Depreciation of property, plant and equipment 1,758 1,597 Profit from sale of property, plant and equipment (191) (31) Share based payments 556 605 Difference between pension contributions paid and amounts recognised in the income statement (728) (1,512) (Increase)/decrease in inventories (110) 208 Decrease in trade and other receivables 956 2,102 Decrease in trade and other payables (6,806) (415) (Decrease)/increase in provisions (30) 37 ––––––– ––––––– Cash generated from operations before exceptional costs 19,198 29,088

Exceptional costs - (19) Tax paid (1,237) (2,288) ––––––– ––––––– Net cash inflow from operating activities 17,961 26,781 ––––––– ––––––– Investing activities Interest received 85 165 Proceeds on disposal of property, plant and equipment 272 31 Purchase of property, plant and equipment (2,436) (2,155) Dividends received from associates 151 182 Outflow on acquisition of subsidiary undertaking (1,670) - Outflow on acquisition of radio licences (180) - ––––––– ––––––– Net cash flows from investing activities (3,778) (1,777) ––––––– ––––––– Financing activities Borrowing costs (2,200) (3,032) Refinancing costs (1,059) - Swap cost (551) (550) Dividends paid to equity shareholders (5,934) (4,279) Dividends paid to non-controlling interests (300) (421) Acquisition of treasury shares - (265) Repayment of borrowings (65,948) (20,474) Proceeds from borrowings 65,595 - ––––––– ––––––– Net cash flows used in financing activities (10,397) (29,021) ––––––– ––––––– Net increase/(decrease) in cash and cash equivalents 3,786 (4,017)

Net foreign exchange differences (33) (28) Cash and cash equivalents at 1 January 7,205 11,250 ––––––– ––––––– Cash and cash equivalents at 31 December 7 10,958 7,205 ––––––– –––––––

(i) The 2012 figures represent continuing operations. The 2011 comparative includes both continuing and discontinued operations. 9 UTV Media plc

Group Statement of Changes in Equity For the year ended 31 December 2012

Equity Capital Foreign Cashflow Share Non- share redemption Treasury currency hedge Retained holder controlling capital reserve shares reserve reserve earnings equity interest Total £000 £000 £000 £000 £000 £000 £000 £000 £000

At 1 January 2011 55,557 50 (1,258) 9,499 (581) 54,441 117,708 475 118,183 –––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– –––––––

Loss for the year - - - - - (25,886) (25,886) 415 (25,471)

Other comprehensive (loss)/income in the year - - - (2,328) 60 (2,456) (4,724) _ (4,724) –––––– –––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– Total net comprehensive (loss)/income in the year - - - (2,328) 60 (28,342) (30,610) 415 (30,195)

Share based payment - - - - - 605 605 - 605 Acquisition of treasury shares - - (265) - - - (265) - (265) Equity dividends paid - - - - - (4,290) (4,290) (421) (4,711) –––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– At 31 December 2011 55,557 50 (1,523) 7,171 (521) 22,414 83,148 469 83,617 –––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– –––––––

Profit for the year - - - - - 15,281 15,281 357 15,638

Other comprehensive (loss)/income in the year - - - (1,153) 270 (3,621) (4,504) - (4,504) –––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– Total net comprehensive (loss)/income in the year - - - (1,153) 270 11,660 10,777 357 11,134

Share based payment - - - - - 556 556 - 556 Equity dividends paid - - - - - (5,950) (5,950) (346) (6,296) –––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– At 31 December 2012 55,557 50 (1,523) 6,018 (251) 28,680 88,531 480 89,011 –––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– ––––––– –––––––

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Notes to the accounts For the year ended 31 December 2012

1. Basis of preparation The Group’s financial statements consolidate those of UTV Media plc, and its subsidiaries (together referred to as the “Group”) and the Group’s interest in associates and jointly controlled entities. The Group financial statements have been prepared in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union as they apply to the financial statements of the Group for the year ended 31 December 2012 and applied in accordance with the Companies Act 2006. The accounts are principally prepared on the historical cost basis except where other bases are applied under the Group’s accounting policies. The financial information set out in the preliminary announcement does not constitute statutory accounts within the meaning of Section 435 of the Companies Act 2006 in respect of the accounts for the year ended 31 December 2012. The statutory accounts for the year ended 31 December 2011, upon which the Company's auditors have given a report which was unqualified and did not contain a statement under section 498(2) or (3) of the Companies Act 2006, have been delivered to the Registrar of Companies. The statutory accounts for the year ended 31 December 2012 have yet to be signed. They will be finalised on the basis of the financial information presented by the directors in this preliminary announcement and will be delivered to the Registrar of Companies in due course.

2. Revenue and segmental analysis The Group operates in four principal areas of activity – radio in GB, radio in Ireland, commercial television and new media. These four principal areas of activity also form the basis on which the Group is managed and reports are provided to the Chief Executive and the Board. Discontinued operations relate to an interactive television business which ceased to trade in February 2011. Revenue represents the amounts derived from the provision of goods and services which fall within the Group’s ordinary activities, stated net of value added tax. Revenue from radio and television activities is generated from advertising and sponsorship. Revenue from new media is generated from the provision of internet and social media services. The amount of revenue derived from the sale of goods or other activities is immaterial and therefore has not been separately disclosed. Transfer prices between business segments are set on an arm’s length basis in a manner similar to transactions with third parties. The following tables present revenue and segment result information regarding the Group’s business segments for the years ended 31 December 2012 and 2011. Revenue

Year ended 31 December 2012 Radio Radio GB Ireland Television New Media Total £000 £000 £000 £000 £000

Sales to third parties 54,407 20,943 32,484 12,271 120,105 Intersegmental sales 787 1,294 2,628 298 5,007 ––––––– ––––––– ––––––– ––––––– ––––––– 55,194 22,237 35,112 12,569 125,112 ––––––– ––––––– ––––––– ––––––– –––––––

Year ended 31 December 2011 Radio Radio GB Ireland Television New Media Total £000 £000 £000 £000 £000

Sales to third parties 52,065 22,514 35,569 11,403 121,551 Intersegmental sales 787 1,250 2,625 - 4,662 ––––––– ––––––– ––––––– ––––––– ––––––– 52,852 23,764 38,194 11,403 126,213 ––––––– ––––––– ––––––– ––––––– –––––––

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Notes to the accounts For the year ended 31 December 2012

2. Revenue and segmental analysis (continued) Results Year ended 31 December 2012 Radio Radio GB Ireland Television New Media Total £000 £000 £000 £000 £000

Segment operating profit before exceptional costs 12,898 5,987 3,901 936 23,722 ––––––– ––––––– ––––––– –––––––

Associate income 129 ––––––– Profit before exceptional costs, tax and finance costs 23,851

Exceptional costs - ––––––– 23,851

Net finance cost (3,021) Foreign exchange gain 151 ––––––– Profit before taxation 20,981 –––––––

Year ended 31 December 2011 Radio Radio GB Ireland Television New Media Total £000 £000 £000 £000 £000

Segment operating profit before exceptional costs 12,291 6,438 6,453 1,528 26,710 ––––––– ––––––– ––––––– –––––––

Associate income 136 ––––––– Profit before exceptional costs, tax and finance costs 26,846

Exceptional costs (45,000) ––––––– (18,154)

Net finance cost (3,488) Foreign exchange loss (15) ––––––– Loss before taxation (21,657) –––––––

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Notes to the accounts For the year ended 31 December 2012

3. Taxation (a) Tax on profit on ordinary activities 2012 2011 £000 £000

Current income tax: UK corporation tax on profits for the year (1,174) (949) Adjustments in respect of previous years 55 (92) ––––––– ––––––– (1,119) (1,041) ––––––– ––––––– Foreign tax: ROI corporation tax on profits for the year (527) (594) Adjustments in respect of previous years - 18 ––––––– ––––––– (527) (576) ––––––– ––––––– Total current tax (1,646) (1,617)

Deferred tax: Origination and reversal of timing differences (2,937) (3,761) Adjustments in respect of previous years 176 635 ––––––– ––––––– Tax charge in the income statement on operating activities (4,407) (4,743)

Exceptional deferred tax (charge)/credit (936) 1,142 ––––––– ––––––– Total tax charge (5,343) (3,601) ––––––– –––––––

The tax charge in the Income Statement is disclosed as: Tax charge on continuing operations (5,343) (3,601) Tax credit on discontinued operations - - ––––––– ––––––– Tax charge in the income statement (5,343) (3,601) ––––––– –––––––

Tax relating to items in the Statement of Comprehensive Income Deferred tax: Actuarial loss on pension schemes 1,051 820 Revaluation of cash flow hedges (81) (29) Valuation of long term incentive plan 5 (8) Exceptional deferred tax charge (121) - ––––––– ––––––– Tax credit in the statement of comprehensive income 854 783 ––––––– –––––––

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Notes to the accounts For the year ended 31 December 2012

3. Taxation (continued) (b) Exceptional (charge)/credit 2012 2011 £000 £000

Exceptional tax credit 1,499 1,142 Exceptional tax charge (2,435) - ––––––– ––––––– (936) 1,142 ––––––– –––––––

During the year, the corporation tax rate in the UK was revised from 25% to 23% (effective from April 2013). Accordingly all the deferred tax assets and liabilities in respect of the reporting segments subject to UK corporation tax were restated to recognise the future gains or charges thereon at this rate. This resulted in a net credit of £1,499,000 in the year. In 2011, the corporation tax rate in the UK was revised from 27% to 25% (effective from April 2012). Accordingly all the deferred tax assets and liabilities in respect of the reporting segments subject to UK corporation tax were restated to recognise the future gains or charges thereon at this rate resulting in a net credit of £1,142,000. In the Finance Bill published on 8 February 2012 and passed into law on 2 April 2012, the rate of corporate capital gains in the was increased from 25% to 30%. The exceptional tax charge of £2,435,000 (2011: £Nil) arises from the restatement of the relevant deferred tax assets and liabilities to reflect this. 4. Earnings per share Basic earnings per share are calculated based on the profit for the financial year attributable to equity holders of the parent and on the weighted average number of shares in issue during the period. Adjusted earnings per share are calculated based on the profit for the financial year attributable to equity holders of the parent adjusted for the exceptional items. This calculation uses the weighted average number of shares in issue during the period. Diluted adjusted earnings per share are calculated based on profit for the financial year attributable to equity holders of the parent adjusted for the exceptional items. The weighted average number of shares is adjusted to reflect the dilutive potential of the Long Term Incentive Plan. The following reflects the income and share data used in the basic, adjusted, diluted and diluted adjusted earnings per share calculations: Net profit attributable to equity holders 2012 2011 Continuing Discontinued Continuing Discontinued Operations Operations Total Operations Operations Total £000 £000 £000 £000 £000 £000

Net profit/(loss) attributable to equity holders 15,281 - 15,281 (25,673) (213) (25,886) Exceptional items 936 - 936 43,858 - 43,858 –––––– –––––– –––––– –––––– –––––– –––––– Total adjusted and diluted profit attributable to equity holders 16,217 - 16,217 18,185 (213) 17,972 ––––––– ––––––– ––––––– ––––––– ––––––– –––––––

14 UTV Media plc

Notes to the accounts For the year ended 31 December 2012

4. Earnings per share (continued) Weighted average number of shares 2012 2011 thousands thousands

Shares in issue 95,903 95,903 Weighted average number of treasury shares (700) (600) ––––––– ––––––– Weighted average number of shares for basic and adjusted earnings per share (excluding treasury shares) 95,203 95,303 Effect of dilution of the Long Term Incentive Plan 649 609 ––––––– ––––––– 95,852 95,912 ––––––– ––––––– Earnings per share 2012 2011 From continuing operations

Basic 16.05p (26.94)p ––––––– –––––––

Diluted 15.94p (26.94)p ––––––– –––––––

Adjusted 17.03p 19.08p ––––––– –––––––

Diluted adjusted 16.92p 18.96p ––––––– ––––––– From continuing and discontinued operations

Basic 16.05p (27.16)p ––––––– –––––––

Diluted 15.94p (27.16)p ––––––– –––––––

Adjusted 17.03p 18.86p ––––––– –––––––

Diluted adjusted 16.92p 18.74p ––––––– ––––––– From discontinued operations

Basic and diluted - (0.22)p ––––––– ––––––– Adjusted and diluted adjusted - (0.22)p ––––––– –––––––

15 UTV Media plc

Notes to the accounts For the year ended 31 December 2012

5. Dividends 2012 2011 £000 £000 Equity dividends on ordinary shares Declared and paid during the year Final for 2011: 4.50p (2010: 3.00p) 4,284 2,862 Interim for 2012: 1.75p (2011: 1.50p) 1,666 1,428 ––––––– ––––––– Dividends paid 5,950 4,290 ––––––– –––––––

Proposed for approval at Annual General Meeting (not recognised as a liability at 31 December) Final dividend for 2012: 5.25p (2011: 4.50p) 4,998 4,284 ––––––– ––––––– 6. Financial liabilities 2012 2011 £000 £000 Current Current instalments due on bank loans 3,852 8,167 Current instalment due on contingent consideration 440 - –––––– –––––– 4,292 8,167 –––––– –––––– Non-current Non-current instalments due on bank loans 56,500 53,752 Non-current instalment due on contingent consideration 2,448 - –––––– –––––– 58,948 53,752 –––––– ––––––

63,240 61,919 –––––– ––––––

The bank loans at 31 December 2012 are stated net of £939,000 (2011: £249,000) of deferred financing costs. The contingent consideration is in respect of the acquisition of Simply Zesty Limited. The balance at 31 December 2012 reflects the amount of future consideration that is expected to be payable.

7. Net Debt 2012 2011 £000 £000

Bank loans (60,352) (61,919) Cash and short term deposits 10,958 7,205 –––––– –––––– (49,394) (54,714) –––––– –––––– 8. Pension schemes The IAS 19 deficit at 31 December 2012 is £12,409,000 compared with a deficit of £8,569,000 at 31 December 2011. The increase in the deficit was primarily driven by a decline in the discount rate assumption arising from the reduction in corporate bond yields plus an increase in life expectancy. Both of these factors led to an increase in the scheme’s liabilities which were greater than the gain in the scheme’s assets. The Group funded a discretionary amount of £1,181,000 towards the actuarial deficit in 2012 (2011: £1,181,000) by means of a cash transfer and has agreed to make further payments of £1,209,000 each year to 2015 in addition to normal contributions.

16 UTV Media plc

Notes to the accounts For the year ended 31 December 2012

9. Related party transactions The nature of related parties disclosed in the consolidated financial statements for the Group as at and for the year ended 31 December 2011 has not changed. There have been no significant related party transactions in the year ended 31 December 2012.

This summary has been approved by our Directors for release to the Press today 19 March 2013 and the full printed Annual Report and Accounts will be posted to Shareholders and Stock Exchanges on 17 April 2013. Copies will be available to the public at the Company's registered office Ormeau Road, Belfast BT7 1EB from that date.

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