Media In The City: Global Radio Could Bid Again For GCap

Last week the big news in the city was all about GCap Media, with the radio giant’s future up for much discussion.

At the start of the week, GCap revealed that it had turned down a £310 million takeover bid from Global Radio (Full Story).

GCap said that Global Radio’s proposed offer was at a price of 190p per share.

However, it added that it had rejected the offer as “the board believed that it significantly undervalued the company”.

The company saw its share price shoot up 45% to 176p, before going even higher on Tuesday, at one point hitting At one point hitting 215.75p before later slipping back to 208p (Full Story).

Also in the enws last week, Denis O’Brien increased his stake in Independent News & Media, the owner of the Independent and Independent On Sunday in the UK, to 16.4%.

O’Brien is viewed as a “dissident shareholder” by INM chief executive and biggest shareholder Anthony O’Reilly (Full Story).

O’Reilly increased his own stake in INM in January, acquiring a further million shares to take his own shareholding to 26.4%.

Meanwhile, Aegis acquired the full-service digital marketing and design agency White Sheep, which is based in Finland (Full Story).

White Sheep will be rebranded as Suddenly Helsinki, becoming part of Isobar’s Suddenly network of full-service digital marketing agencies in the Nordics.

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