Sharewatch: BSkyB Dips On News Of Advertising Push
BSkyB saw stock dip by 0.26% yesterday to finish at 479žp as investors digested news of an extensive cross-media campaign designed to promote the satellite broadcaster to the million of viewers who still do not subscribe to it (see Sky Targets Digital Refuseniks With Cross-Media Campaign).
ITV was also seen in focus yesterday with shares rising by 3.11% to close at 107žp after media regulator Ofcom ruled that the television company would not have to fulfil its public service agreements, opening the way for ITV to concentrate on more commercial programming.
Capital and GWR continued to be the subject of much scrutiny as the market continued to digest the intricacies of their planned £711 million merger. Yesterday the radio groups named the senior management team that will run the single sales house created as a result of the tie-up. Capital saw shares rise by 10.3%, but GWR sank 3.01% lower (see Capital And GWR Name Team For Single Sales House).
The wider market put in a mixed performance yesterday with London’s benchmark FTSE 100 index dipping by 0.4% yesterday to close at 4,570.8. Meanwhile, the mid-cap FTSE 250 inched up by 0.1% to 6,269.1. Trading volume was 3.5 billion.
The closing prices of media company shares on Thursday were:
