Sharewatch: Capital Boosted By New Digital Joint Venture

Capital Radio was seen in focus yesterday with shares rising by 2.31% to close at 465p after announcing the launch of a £5 million joint venture to design, manufacture and market a new breed of digital radios for younger listeners (see Capital To Boost Digital Radio With X-fm Branded Sets).

SMG was also in the spotlight after a leading shareholder advisory group criticised the company’s executive pay policy and boardroom make-up ahead of its annual meeting on Friday. Shares in the Scottish group held firm at 111p.

Meanwhile, United Business Media saw shares dip by 0.68% yesterday to close at 439p despite moving to strengthen its position in the hi-tech magazine market by offering £188.1 million for healthcare media business, MedMedia

Ulster TV also performed poorly with stock falling by 0.93% to finish at 427˝p. However, the company recently predicting a strong performance for the coming year, with advertising revenue in the first six months of the current year expected to increase by 16% (see Ulster TV Revenue Set To Grow By 16%).

The wider market was affected by another hike in the crude oil price yesterday following the weekend attacks in Saudi Arabia. The FTSE 100 dipped by 0.2% to 4,422,7 and the more cyclical FTSE 250 fell by 0.4% to close at 6,026.5.

The closing prices of media company shares on Tuesday were:

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