Scottish Media Moves On Grampian

Scottish Media, the group which owns Scottish TV, has this morning confirmed that is in takeover talks with Grampian in a deal worth around £100m.

Scottish Media has said that it would offer 320p per Grampian share, which closed at 262.5p on Friday. The move is likely to be investigated by the ITC, which would probably conduct a public interest test on the move. This is due to the fact that Scottish Media owns The Herald and Evening Times as well as STV. The Mirror Group, which has a 20% stake in Scottish, owns the Scottish Daily Record.

If the takeover went through, Scottish would control most of the print and television media in Scotland.

At 9.54am, Scottish Media shares had risen 11.5p to 686.5p.

Further details of the implications of this move, if it went ahead, will appear on Newsline later today.