Telewest was one of the best performer in yesterday’s media market. Shares climbed 6.84% to finish at 62˝p as the cable operator benefited from reports that its US rival, NTL, is expected to be taken over by its bankers in the new year.
The Office of Fair Trading’s announcement that it expected to find BSkyB guilty of acting uncompetitively (see OFT Proposes Ruling Against BSkyB) had no effect on BSkyB’s stock, which rose 2.86% yesterday to close at £7.56.
SMG was the worst performer in yesterday’s buoyant media market, with shares falling 2.21% to close at £138˝, a loss of 3p on the day before.
The closing prices of media company shares yesterday were:
