SMG has confirmed that it has received a further approach from UTV regarding a possible merger of SMG and UTV, and has entered into discussions with the group.
In a statement SMG said that its search process for a new CEO has been suspended while merger discussions progress.
The SMG board also reported that good progress is being made on the disposals of Primesight and Pearl & Dean. Discussions with the Group’s lenders are proceeding well and constructive discussions have taken place with the Group’s pensions trustees regarding future funding.
It was reported at the beginning of December that UTV and SMG had reopened talks (see UTV Reopens Merger Talks With SMG).
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