Yesterday proved another buoyant day for media shares with most showing increases on Wednesday’s closing prices. One notable exception was Future Network, which, having been boosted earlier in the week by the prospect of a sale of the company, slumped 11½p to 42½p, when the offer talks turned out to have ended without fruit.
Among those shares on the up yesterday were SMG, which benefited from welcome news for commercial radio in the RAJAR results (see Newsline), jumping 21½p, or almost 14% to close at £1.76½. The normally unmoving share price of Jazz FM was also affected by RAJAR results, along with the news that its North West licence has been renewed (see Licence Renewed For Jazz FM). Shares ended up 5p at £1.53½.
The closing prices of media company shares yesterday were:
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