Sharewatch: ITV Partners Rise On Elstein Speculation

ITV partners Carlton and Granada were seen in focus yesterday, up 4.94% and 3.62% respectively. The broadcasters were boosted by continued speculation that a consortium led by former Channel Five chief executive, David Elstein, may attempt to buy out the group after its merger (see Elstein’s ITV Bid Boosted By Hallmark Link).

Elsewhere, Cable & Wireless was seen in the spotlight, up 2.28% after reports that it is narrowing the field of bidders for its loss making US arm.

BSkyB was also in focus following reports that its chief executive, Tony Ball, is set to leave due to his ‘increasingly tempestuous’ relationship with Rupert Murdoch.

Broader market sentiment remained subdued on Monday as caution dominated traders plays and volumes remained seasonally low.

The closing prices of media company shares on Monday were: