Sharewatch: UBC Falls Despite Channel 4 Radio Boost
The majority of media stocks saw a rise in share price last week, although UBC Media, the UK’s largest independent radio production company, proved that the good fortune was not universal as it suffered a 6.52% slip.
Last week saw the company announce details of a development agreement with Channel 4 to create a radio joint broadcasting operation from the company’s existing Oneword digital radio station. The move confirmed mounting speculation that the two firms had plans together to strengthen Channel 4’s position in an increasingly competitive multi-channel world (see Channel 4 Plans To Launch National Talk Radio Station).
Elsewhere, niche magazine giant Future Publishing saw a dip of 1.29% week on week. Last Monday saw the company announce the purchase of PC Zone and Computer & Video Games from the US publishing house, Dennis Publishing, for £2.5 million, further strengthening the company’s position in the computing sector (see Future Network Buys Games Mags For £2.5 Million).
Satellite superpower BSkyB saw one of the week’s largest rises, climbing by 4.72% week on week, as the broadcaster unveiled its autumn schedule and revealed an extensive revamp of its flagship entertainment channel, Sky One (see Sky One Gets Facelift In Time For Autumn Schedule).
The closing prices of media company shares on Friday were:
