Portland, the company that owns a string of adult channels including Television X and Red Hot, is examining the possibility of a flotation. The Financial Times reports that Portland, owned by Express Newspapers publisher Richard Desmond, has appointed senior Scottish banker Sir Angus Grossart head of a possible flotation.
Desmond has previously been able to reduce his tax liabilities by basing the majority of his broadcasting interests in Jersey, despite the main operations being in the UK, where the channels can be found on the Sky Digital platform.
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