Sharewatch: Future Publishing Performing Well
Specialist magazine publisher Future Network saw a jump in share price yesterday, gaining 2.11% to close at 72˝p. This comes ahead of the recent acquisition of Beach Magazines and Publishing and the appointment of Richard Schofield as its new head of marketing, charged with creating an aggressive new promotional plan for Future’s portfolio of titles (see Future Appoints Marketing Head For Aggressive Strategy).
Radio group Capital Radio also saw a leap in share price, going up 1.60% to close at 411˝p. Their proposed £711 million merger with GWR has been delayed and advertisers and rival radio groups could call for a Competition Commission enquiry into the deal (see Capital/GWR Merger Could Face Competition Enquiry).
Elsewhere,Scottish Radio Holdings saw a tumble in share price losing 2.62% to close at 910˝p, making them the poorest performers amongst media stocks on yesterdays market. This comes despite a positive trading statement issued last month stating that the group operating profit had risen by 16% to £22.1 million for the year to 30 September.
The FTSE 100 continued to do well yesterday, adding 34.3 points to close at 4,731.1 while the FTSE 250 climbed by 22.5 points to 6,789.9.
The closing prices of media company shares on Monday were:
