Published Tuesday, 11 February 2014
UTV's headquarters in Belfast (© UTV)
The new licence period is set to begin on 1 January 2015.
The announcement was made on Tuesday morning, after Ofcom was advised by the company that the terms had been accepted.
UTV Media plc Group Chief Executive John McCann said: "Today's announcement is wonderful news for our staff and our business and ensures UTV's continued investment in the local economy in Northern Ireland.
"As a successful regional broadcaster, we are totally committed to providing our audience with high quality public service programming in the future - as we have for more than 50 years."
UTV's Managing Director Michael Wilson added: "The commitment of our staff has never been stronger and the quality of our regional output continues to enjoy some of the highest ratings in the whole of the UK.
"Today's announcement ensures UTV can plan ahead to invest in high quality public service content and in further technology to enable our content teams to deliver our programming on an ever increasing number of platforms.
"We look forward to providing our audience with the same high standards of news, current affairs and programming that reflects the people and issues of Northern Ireland in the future."
© UTV News