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Shareholders welcome more bids for SMG.
SMG shareholders are waiting to see if venture capital firms are willing to make a better offer than that made by Ulster Television for the group.
After weeks of speculation, TalkSport controller Ulster Television confirmed it had entered into merger talks with the Virgin Radio owner. However, although the deal would create a powerful group with two national radio stations valued at #400m, it is an all-paper deal that would offer no cash premium for shareholders.
It means shareholders are faced with the choice of owning a stake in an enlarged and more powerful media company or selling up for a profit and walking away, should venture capitalists get involved.
"Both would be better businesses in a combined company but SMG is owned by shareholders," says Richard Menzies-Gow, media analyst at Dresdner Kleinwort Wasserstein. ...
- SMG holds [pounds sterling]400mmerger talks with Ulster Television.
- Newspaper article from: The Evening Standard (London, England) August 18, 2006 700+ words
VIRGIN RADIO owner SMG is in [pounds sterling...Northern Ireland broadcaster Ulster Television. In a statement to the Stock Exchange today, troubled SMG said it had received an...approach follows the ousting of SMG chief executive Andrew Flanagan...
- ULSTER TELEVISION (UTV).
- Magazine article from: Investors Chronicle March 17, 2006 700+ words
Ulster Television's UK radio assets are bucking the trend by posting strong growth in...2006 and its shares continue to trade at a slight earnings discount to SMG's, because its television assets are underperforming. Fairly priced...
- SMG's wheel of fortune on a roll with sights on London publisher.
- Newspaper article from: The Birmingham Post (England) September 9, 1998 700+ words
...the past two years. However, a move to buy Ulster Television failed, and SMG sold its shareholding in the company earlier...gain on the sale of the group's investment in Ulster Television. The latest results compare with pounds 18...
- SMG (SMG).
- Magazine article from: Investors Chronicle March 17, 2006 700+ words
SMG's television business...advertising, and Ulster Television, which reported...for-like basis, SMG estimates that TV...adjusted EPS of 5.3p. SMG continues to justify its premium rating to Ulster Television with both its television...
- Ulster TV bid move puts SMG in play.
- Newspaper article from: The Daily Mail (London, England) August 19, 2006 700+ words
...are preparing to pore over SMG's books as [pounds sterling]400m merger talks with Ulster Television put the Virgin Radio owner...shareholder ITV, which owns 17pc of SMG, is understood to take a dim...shareholders to back the merger'. SMG (up 2p at 72p) which owns...
- SMG clears out its closets again.
- Newspaper article from: Daily Mail (London) September 14, 2006 700+ words
...Perhaps Virgin Radio owner SMG (down 1 pence at 81 pence...and Hearts football club. SMG hopes to raise [pounds sterling...has proposed the same plan. SMG, which owns the two ITV1 licences...is still willing to talk to Ulster Television about a [pounds sterling...
- Now UTV is calling the tune in fresh merger talks with SMG.
- Newspaper article from: Daily Mail (London) December 12, 2006 700+ words
...music has started again for SMG's Celtic fling with UTV...Virgin Radio, its key asset, SMG has taken to the floor once...1/2p at 378p), formerly Ulster Television, was precluded from making...in the City. Even Taggart, SMG's homegrown detective, would...
- SMG mulls rival UTV's merger proposal.
- Magazine article from: Investors Chronicle August 25, 2006 700+ words
SMG looks set to reject a merger approach from rival Ulster Television (UTV). It is believed that...smaller market capitalisation than SMG, has pitched a 50/50 nil...toincrease the value it places in SMG in order to win its support...