Newsquest’s acquisition of two Yorkshire-based advertising freesheets from Adscene drove shares up by 30p to close at 397˝p. Newsquest released its annual financial results on Monday this week (see Newsquest ‘Cautiously Optimistic’ For 1999). Share in Adscene remained static at 154˝p.
The announcement that Granada is to buy an 18.6% stake in Scottish Media Group from the Mirror Group, caused its shares to fall by 53p to 1,204p; SMG rose 22p to 865˝p on the back of the news. The Mirror Group dropped by 1˝p to 209p.
The closing prices of media company shares yesterday were:
