Business Comment: Screen Test for Smg in a Climate of Uncertainty

Scotland on Sunday › September 18, 2006

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Summary

SMG denies that its decision to offload its outdoor and cinema advertising businesses was a knee-jerk reaction to interest in the company from UTV, or from restless shareholders wanting a change of direction. That's despite everybody else thinking otherwise.

These will be the latest in a string of asset sales at the Glasgow media group. The Herald newspapers and its stake in GMTV and in Scottish Radio Holdings were prized assets of ousted chief executive Andrew Flanagan. With Primesight and Pearl & Dean on the block, there ain't much left of the former boss's empire, save Virgin Radio and Ginger Television, for which he was also accused of paying a high price.

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Extract

Business Comment: Screen Test for Smg in a Climate of Uncertainty

With advertising in the doldrums, and SMG - for all its Scottish identity - tied in to the poor performance of ITV1, there is not a lot to look forward to. Television profits in the first half fell, and Vir...

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