The Group entered into the following material transactions with related parties during the year:

			Balances owed to/(due from) the Group		Value of sales to/(purchases from) the Group
			1999	1998	1999	1998
Related party	Relationship	Note	£m	£m	£m	£m
Independent Television News Limited	Associated Undertaking	(a)	-	(1.4)	(13.3)	(18.1)
London News Network Limited	Joint venture	(b)	(1.8)	(1.9)	(11.6)	(11.6)
ONdigital plc	Joint venture	(c)	2.3	-	12.6	-

(a) Purchase of news programmes.
(b) Purchase of news programmes and transmission.
(c) Sale of television advertising time.
In 1999 the Group made an equity investment in ONdigital of £62.0m and a loan to ONdigital of £31.0m (1998 - £45.5m equity investment in ONdigital).

 
35 POST BALANCE SHEET EVENTS

On 26 November 1999 the Company announced a proposed merger with United News & Media plc. Listing particulars and the offer document for the proposed merger were posted to shareholders on 10 December 1999.
On 22 December 1999 the Company sold Solid State Logic for £43.5m, inclusive of a £4.5m pre-disposal dividend. As at 30 September 1999 Solid Sate Logic's net assets were £23m and there was goodwill attributable to its acquisition of £50m.