Speculation that Scottish Radio Holdings is on the brink of being take-over by Emap has intensified following news that the company is looking for advisors in anticipation of a potential deal.
Speculation has been rife that Emap would launch a take-over bid for Scottish Radio Holdings since the cross-media giant expressed an interest in increasing its 29.9% stake in company.
Reports suggest that Scottish Radio holdings is currently looking for advisors in expectation of a move in the new year. It is thought that a deal may be done in January after the outcome of the proposed £711 million merger of Capital and GWR is decided, a ruling that will test the regulatory landscape.
However, David Goode, chief executive of Scottish Radio Holdings, has moved to play down the claims. He told the Scotsman: “We are not appointing advisors to fight off or even evaluate an Emap bid. We have had no indication of an approach.”
The expected raft of mergers and acquisitions in the commercial radio market has not come as quickly as expected. There has been some consolidation amongst the industry’s smaller players, but there has so far been little interest from US or European media groups seeking to take advantage of the new ownership regulations.
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