Sharewatch: Future Network Looking Strong For New Year

Consumer magazine publishers Future Network lead yesterday’s trading amongst media stocks, gaining 2.05% to close at 74˝p. The company plans to launch at least nine new magazines in the New Year and hopes that tapping in to the US action sports sector will help boost group revenues in 2005.

Media communication and research group Aegis Group PLC saw an increase of 1.71% to close at 104źp. This comes after the company issued a very positive close of year trading statement stating that turnover was ahead on a year on year basis and that all its subsidiary companies, Carat, Synovate, Vizeum, Isobar and Postersccope had performed well in 2004.

Elsewhere, investors reacted badly to the proposed merger of GWR and Capital Radio, seeing radio group GWR drop 1.57% to close at 250p. Ofcom has stated that it intends to vary two GWR licences ahead of the merger, in order to safeguard local programming (see Capital GWR Merger Escapes Competition Inquiry).

The FTSE 100 continued to climb yesterday, adding 10.3 points to close at 4,787.7 while the FTSE 250 added 29.5 points to close up at 6,873.0.

The closing prices of media company shares on Thursday were: