Week on week analysis of the media sector saw stocks extending gains almost across the board after some positive results and upgrades across the sector.
ITV partners Carlton and Granada were seen in focus on news that they are to push ahead with an application for a merger to the Office Of Fair Trading. The stocks were seen up 24% and 14.71% respectively, week on week.
On the corporate news front SMG was seen in focus after reportedly throwing the Barclay Brothers out of the bidding for its Herald newspaper titles in order to avoid a political and regulatory backlash. The stock was seen up 7.58% week on week.
BSkyB remained in focus, seen wavering on concerns that the Office Of Fair Trading may extend its investigation into the broadcaster’s business practices. The stock was seen up 2.66% week on week.
The closing prices of media company shares on Friday were:
