LWT Issue Final Document

In the last document in which LWT is allowed to offer fresh financial information before the close of the bid, next weekend, LWT again urges shareholders to reject Granada’s offer.

LWT point out that Granada’s bid remains inadequate. LWT says that January advertising revenue has risen by 10% year on year to £14.8m, and that the first quarter’s advertising revenue is likely to be at least £1.5m ahead of budget.

The document continues with LWT’s performance in share of viewing, programme trading and studio bookings, all improvements on the same period last year. Forecasts for GMTV revenue expect a rise of 18% on the same period last year, with GMTV expected to be profitable overall in 1994.

Sir Christopher Bland, chairman of LWT, commented, “LWT has made an impressive start to the year and we believe that the Group’s prospects remain excellent. We continue to urge LWT shareholders to reject the inadequate Granada offer.”