Media group Daily Mail and General Trust, based in the United Kingdom, announced it will be put a 20 percent stake in broadcasting firm ITN up for sale, MediaWeek UK reported Monday.

ITN, which governs IT1's News At Ten and Channel 4 News, is thought to be looking for new financial backing in order "to boost its commercial revenue in order to grow internationally." ITN's largest stakeholder, ITV, may be either put up its 40 percent stake on the market or reduce it, according to MediaWeek UK.
"This would include enlarging its consultancy arm, which advises companies how to manage news broadcasting and its news footage video library, " a MediaWeek UK article stated.

ITN recently launched the first video news application for Apple's iPhone, available for free on the iTunes App. Store. In 2006, ITN had a turnover of £98.7 million as well as £5 million in profits prior to taxation.