Sharewatch: ITV Share Price Plateaus Amidst Bid Scepticism

Commercial broadcaster ITV saw a slight increase in share price, gaining 0.43% to close on Monday at 115˝p. Last week saw ITV share price rise dramatically amidst speculation of a consortium bid backed by private equity houses Apax and Kohlberg Kravis. However, stock soon slid back on scepticism over the bid (see Greg Dyke Implicated In ITV Bid Speculation).

Global media network Aegis saw a jump in share price gaining 1.20%, to close yesterday at 105žp. Earlier this week Aegis quickly dismissed reports that chief executive Doug Flynn was leaving the business to take the top job at Australian media group Fairfax.

Elsewhere, newspaper publisher Trinity Mirror saw a drop in share price, losing 1.47% to close at 670p. Recently the Daily Star slashed its weekday cover price to 15p, igniting fears that a fresh tabloid price war is on its way. The last tabloid price war in 2002 cost Trinity Mirror dearly, with the company understood to have suffered revenue declines of nearly £20m (see Daily Star Price Cut Sparks Fears Of Tabloid Price War).

The FTSE 100 saw a rise of 0.5 points to close at 4,846.7, while the FTSE 250 also saw a increase, rising 0.4 points to close yesterday at 7075.3.

The closing prices of media company shares on Monday were: