Goldman Sachs and Richard Desmond Plan Channel 5 Flotation
A file photograph of Channel 5 owner Richard Desmond.Reuters

British media baron Richard Desmond, who owns the Daily Express and Channel 5, is considering a stock market flotation of the free-to-air TV broadcaster, according to media reports.

Desmond is working with Goldman Sachs on the planned listing, amid ongoing attempts to sell Channel 5, reported Sky News.

A possible sale of the network had attracted interest from over 20 potential buyers, including Discovery Communications, Scripps Networks, Viacom and British Sky Broadcasting, the owner of Sky News.

Seven parties remained in the running last week.

Media reports in January said Desmond had enlisted Barclays to scout for buyers for the television network and was looking to raise some £700m pounds ($1.16bn, €837m) through the sale.

Channel 5 made a profit of £20.6m pounds in the first half of 2013, having made a loss of £16.1m a year earlier.

Channel 5, which broadcasts Big Brother, was acquired by Desmond's Northern & Shell media group in 2010 for £103.5m.