Sharewatch: UBC Rises After Boost In Airtime Revenue
Week on week analysis of the media sector reveals a strong performance from radio station operator and production company, UBC, which saw shares rise by 7.58% after announcing it had managed to boost commercial airtime revenues in June and July (see UBC Sees Radio Revenue Turnaround After Weak Start).
BSkyB was also in focus, rising by 1.14% week on week following news it has secured exclusive live television rights to Premiership football for a further three years in separate deals totalling £1.024 billion (see BSkyB And BBC Big Winners In Premiership Bidding Contest). However, reports suggest the European Commission will investigate the deal on grounds that it could be anti-competitive.
Meanwhile, Reed was seen in the spotlight, with shares climbing by 3.80% after reporting a 3% increase in pre-tax profits for the first half of 2003 and expressing confidence that full year revenue growth targets will be reached (see Reed On Target As Profits Rise In H1).
The worst performance in last week’s media sector came from troubled cable operator, Telewest, which saw stock dip by 14.29% to close at 1˝p.
The closing prices of media company shares on Friday were:
