News that Capital Radio is about to launch a rival bid for Border Television (see Capital Radio Prepares Border TV Bid) caused Border shares to rise again yesterday, gaining 27˝p to £11.82˝. The television companies suitors fared less well, with Capital Radio falling 75p to £15.12˝ and original bidder Scottish Radio Holdings falling 12˝p to £15.62˝.
Scottish Media Group has decided to restructure its share capital, creating a new holding company known as SMG Plc (see Scottish Media Group Announces Restructure Plans). Yesterday shares remained at £12.87˝. Meanwhile, as the ITC invited views on the proposed merger of Granada and United News and Media (see ITC Invites Views On Granada’s Proposed Acquisition Of United), Granada shares rose 28p to £6.97˝. United News and Media closed 6p up at £8.03˝ and Carlton rose 18˝p to £7.72˝.
The closing prices of media company shares yesterday were:
