Sharewatch: ITV Partners Rise As Decision Approaches

ITV partners, Carlton and Granada, were seen in focus last week with shares rising 9.88% and 5.94% following news that the decision over their proposed £4 billion merger is due to be announced on 6 October.

Granada chairman, Charles Allen, also revealed that he and his Carlton counterpart, Michael Green, would consider accepting the double divestment of ITV’s sales houses to save the planned merger (see Granada Chief May Accept Divestment To Save ITV Merger).

Chrysalis was also in the spotlight, improving by 2.86% after announcing that its radio revenues rose by 14.8% during the twelve months to 31 August 2003, significantly outperforming the radio industry which grew by just around 3% over the same period (see Chrysalis Radio Continues To Outperform Industry).

At the other end of the scale, Future Network slipped by 6.72% week on week despite achieving a rise in first half pre-tax profits of 22% to £1.1 million, on a improvement in turnover of 9% to £80.6 million (see Future Network Profits Up 22%, Buoyed By Strong US).

The closing prices of media company shares on Friday were: