MacKenzie Scoops Holdings Of Almost 15% In Highbury

Former Sun editor, Kelvin MacKenzie, has shown a surprise interest in publishing firm Highbury House, after increasing his stake in the company from nothing to 14.99% in just two days.

The high-profile media boss is rumoured to be interested in the chief executive position at Highbury, after acquiring a 6.2% stake in the firm on Friday, followed by his latest increase of 8.79%.

The confirmation follows yesterday’s Sunday Times prediction that the former tabloid chief would take a near 15% stake in Highbury today, with the newspaper also claiming that MacKenzie could replace current chief executive Mark Simpson, who is to step down at the end of September.

However, such a move would uproot the succession plan already agreed by Highbury’s board. The company is currently on track to appoint Mike Frey to the chief executive role, promoting him from his existing role as managing director of Highbury Entertainment (see Highbury Entertainment Welcomes New Managing Director).

MacKenzie’s growing influence over Highbury follows his failed bid to secure control of The Wireless Group earlier this year (see Wireless Group Halts Takeover Talks With MacKenzie).

The radio firm was eventually purchased by Ulster Television (UTV) in May (see UTV Shareholders Approve TWG Acquisition), which swooped on the broadcaster with a bid worth just over £98 million. UTV’s triumph saw MacKenzie leave with a payoff of around £7 million for his 6.4% stake in the firm and severance payments.

Highbury House Communications: www.hhc.co.uk