Scottish Radio Acquires Outdoor Contractor For £9m

Scottish Radio Holdings today announced that it has acquired Bristol-based outdoor advertiser, Parkin Advertising, for £8.9 million. This is the second outdoor acquisition for Scottish Radio in the last month, after it bought Trainer Outdoor Advertising for £27.5 million in March (see Scottish Radio Moves Into Outdoor With £27.5m Trainer Acquisition).

Richard Findlay, SRH chief executive said: “This is a positive step forward in our planned expansion within the outdoor sector, which vies with commercial radio as the part of the UK media sector demonstrating the fastest revenue growth. We will continue to seek appropriate opportunities for growth within the media sector.”

During the financial year to 31 March 1999, Parkin generated pre-tax profits of £0.61 million on a turnover of £3.59 million. The family business has over 1,200 48-sheet equivalent panels, mainly in the HTV and West Country television areas, and is the largest 48- and 96-sheet contractor in the South West region.

SRH said that Parkin’s current managing director, Mike Parkin, will remain with the company after the takeover and there are no plans to reduce staff there.

Scottish Radio Holdings: 0141 565 2202 Parkin Advertising: 01225 874 499