Notes to the Accounts

28. Related parties

Partnerships and associated undertakings
Loans and equity advanced to associated undertakings during the year and at the balance sheet date are shown in note 11. Amounts falling due from partnerships and associated undertakings are set out in note 14. Dividends receivable from partnerships and associated undertakings are set out in note 11. Details of individually significant transactions are shown below.

Troll Communications LLC
During the year the Group sold its 44.1% interest in the equity of Troll Communications LLC. £1.5m in interest income on the subordinated debt and £0.8m dividend income on the preferred stock were earned in the period. As at 31 December 1997 no interest was out standing (1996: £3.6 m) and no dividend was outstanding (1996: £2 .1m).

Port Aventura SA
The Group has a 40% interest in the equity of Port Aventura SA. Management fees of £2.0m were earned during the year of which £0.8m (1996: £1.0m) was outstanding at the year end.

Channel 5 Television Group Ltd.
The Group has a 24% economic interest in the equity of Channel 5 Television Group Ltd. During the year £47.3m of loans were advanced.

During the year the Group provided £22.6m of programming to Channel 5 Broadcasting Ltd., a wholly owned subsidiary of Channel 5 Television Group Ltd, and undertook transmission to the value of £2.1m for Channel 5 Engineering Services Ltd, a subsidiary of Channel 5 Television Group Ltd. At 31 December 1997 £6.3m was outstanding (1996: £nil).

European Channel Management Ltd.
The Group has a 45% interest in European Channel Management Ltd. During the year the Group paid £1.0m for £3.9m of tax losses.

UK TV
The Group has a 20% interest in UK TV. During the year the Group provided programmes and services to the value of £2.7m of which £0.1m was outstanding at the year end (1996: £nil).

Grundy associated undertakings
During the year the Group received £3.7m for management fees, format rights and royalties from a number of associated undertakings of Grundy Worldwide Ltd, of which £0.1m (1996: £0.4m) was outstanding at the year end. No individual transactions were material to the Group.

Lazard Partnership
Details of the ownership structure and profit sharing arrangements are set out in note 11.

The Group periodically places funds on deposit with the Lazard Houses. The investments are made on an arm's length basis and no transactions are individually material in the context of the Group treasury transactions. The Group also uses the Lazaed Houses to provide professional advice. Fees for such services for the year to 31 December 1997 totalled £3.6m.

Other
Transactions with directors and officers of the company are set on pape 35 of the Directors' Report.