News that Granada Media’s Anglia licence had been renewed caused barely a ripple in its share price, which rose just 1p to end at £4.16. A more positive reaction was felt for Johnston Press’ positive but cautious trading update (see Johnston Press Releases Positive Trading Statement Ahead Of Results), which pushed Johnston shares up 8p to £3.56½.
SMG bought itself another chunk of Scottish Radio Holdings on Monday, prompting speculation about whether a full take-over could be on the cards (see SMG Increases Stake In Scottish Radio Holdings). Shares in SMG rose 5p to £2.76 yesterday, as the market digested the news, while SRH added 15p to end at £16.02½.
The closing prices of media company shares yesterday were:
