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Sharewatch: Wireless Group Falls On Mixed Results
The Wireless Group was seen in focus yesterday after reporting a 74.8% reduction in operating losses. However, the news failed to ignite the market which remains concerned that the war in Iraq has reduced visibility in the radio market and the stock was seen down 0.84%.
The Carlton and Granada merger saga continued to rattle the media markets yesterday with continued speculation that the cost-saving amalgamation of the group’s sales houses will not be allowed.
Reuters was also in the news after Morgan Stanley reiterated its underweight rating on the volatile stock. The board is also facing a shareholder revolt over executive pay. Shares were seen up 1.91%.
The closing prices of media company shares on Wednesday were:
