Sharewatch: Capital Falls Following RAJAR Results
Capital radio group was seen in focus yesterday, down 6.46% after the latest RAJAR figures for the third quarter of 2003 revealed a 13.9% year on year decline in weekly reach for its flagship 95.8 FM station in London (see RAJAR Results Q3 2003: Heart Challenges Capital For Top Spot).
Meanwhile, ITV partners Carlton and Granada remained in the spotlight, down 1.75% and 1.74% respectively. Reports suggest shareholders have voiced anger at the ousting of Michael Green from the ITV board, arguing it is part of a ‘de facto takeover’ by Granada shareholders (see Charles Allen Could Spark Fresh Shareholder Dispute).
The reports come as institutional shareholders consider more radical cost-cutting plans for the enlarged group.
Broader market sentiment was dented by Wall Street’s steep sell off earlier in the week and continued weakness in Asian markets yesterday.
The closing prices of media company shares on Thursday were:
