US media group, Clear Channel, has denied reports that it is in purchase negotiations with Scottish Radio Holdings (SRH). Market rumours circulating over the weekend and yesterday speculated that Clear Channel is interested in taking a stake in SRH. Scottish Radio owns a series of radio stations, local papers and billboards sites and has bid for the Glasgow digital radio licence through its Score Digital venture (see Score Digital Is Sole Bidder For Glasgow Digital Radio Licence).
SRH has recently completed the acquisition of three outdoor advertising groups. In March it bought Scottish-based outdoor advertising contractor, Trainer Outdoor Advertising for £27.5 million (see Newsline), and in April bought Parkin Advertising, for £8.9 million (see Newsline). Lastly it acquired Birmingham based Vision Posters in May for £15.4 million (see Newsline).
Clear Channel also has a substantial interested in outdoor advertising boosted when it acquired the More Group last year (see Newsline),
Scottish Radio has also denied knowledge of any approach. Yesterday the group’s share price jumped 47˝p to 967˝p.
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