The Department of Culture, Media and Sport has renewed UTV's Channel 3 television licence for another 10 years.
The award is subject to negotiations between UTV and Ofcom on both costs and levels of public service broadcasting.
The announcement comes as UTV unveiled two new non-executive members to its board, Andy Anson and Coline McConville.
Mr Anson, current CEO of Kitbag, an online sports retailer, and non-executive director of the British Olympic Association, was formerly CEO of England 2018 - England's bid to bring the FIFA World Cup to England - is also commercial director and board member of Manchester United plc.
Managing director Michael Wilson described the announcement of the licence renewal as a "good day for broadcasting in Northern Ireland".
"It's great news obviously for the staff here at UTV, great news for the audience, and we are delighted for the creative industries in Northern Ireland as well," he commented.