Sharewatch: DMGT Dips As Metro Distribution Reconsidered

Newspaper publishers Daily Mail & General Trust dropped in share price yesterday, losing 2.24% to close at 726p. The dip came as London Mayor Ken Livingston announced plans to end the publishers’ exclusive deal for distributing the Metro newspaper on the Underground (see Livingstone Opens Tube To Afternoon Freesheet).

Kevin MacKenzie’s Wireless Group saw a strong performance on yesterday’s market, gaining 1.79% to close at 85˝p. Government media watchdog Ofcom recently awarded the Group the much sought after Edinburgh FM licence, enabling the broadcaster to provide the region with a 24-hour speech radio station dubbed Dunedin FM (see Wireless Group Scoops Edinburgh Radio Licence).

Elsewhere, Emap saw its share price decrease, losing 1.73 to closer at 794p, despite UBS analysts reiterating their “buy” rating on the company yesterday.

The FTSE 100 saw a drop of 35.1 points yesterday to close at 4,783.6 while the FTSE 250 jumped up, gaining 23.7 points to close at 6,976.1.

The closing prices of media company shares on Wednesday were: