Granada Makes Board Appointments Ahead Of Carlton/UNM Decision

Granada Media is thought to be strengthening its board in advance of a hostile bid for United News and Media (UNM) or Carlton Communications. Two new non-executive appointments to the Granada board include David Chance, former deputy managing director of BSkyB, and Nigel Rich, currently chairman of Hamptons group and deputy chairman of Ocean. Both will join with immediate effect.

Chance, who is among those credited with BSkyB’s change in fortune in the middle of the last decade, will join Granada as it prepares to undertake a partial IPO, spinning off the media interests of the group (see Granada Group To Float Media Arm).

Commenting on his appointment, he said, “I very much look forward to working with Granada Media as it becomes an independent media company and embarks on a new phase of growth.”

The new phase of growth Granada has in mind is the takeover of either United News and Media or Carlton Communications. Granada decided to make a bid after the other two announced they were planning to merge, a move which would create a significant rival to Granada (see Granada Poised To Bid For Rivals).

Any of the three possible mergers could raise regulatory issues. On Friday the Competition Commission met to decide on whether the UNM/Carlton merger would cause concern. Its decision has been passed onto Secretary of State for Trade and Industry, Stephen Byers, but not disclosed publicly. His response is expected in four to six weeks.

Granada’s bid has also been referred to the Competition Commission (see Granada Referred To The Competition Commission) and all three scenarios have passed the ITC’s public interest test (see ITC Says Proposed Mergers Pass Public Interest Test).

Carlton Communications: 020 7663 6363 Competition Commission: 020 7271 0100 Granada: 020 7620 1620 United News and Media: 020 7921 5000