Sharewatch: Granada Faces Shareholder Unease
Week on week analysis of the media sector reveals a positive performance for Granada, which saw stock improve by 2.40% week on week following reports that an unnamed outside party could be preparing to make a bid for the company. Speculation also suggests that the broadcasting giant faces shareholder protest at its annual meeting this week over the re-election of its executive chairman, Charles Allen.
Prospective merger partner, Carlton, also performed well with stock improving by 6.29% week on week to close at 80źp.
BSkyB was seen in focus following news that the BBC is ending its £85 million, five-year carriage agreement with the satellite broadcaster (see BBC Terminates Sky Carriage Deal). Shares rose by 2.62% to close at £6.26.
Elsewhere, SMG saw shares fall by 8.40% to finish at 60p, in what was the worst media performance of the week.
The closing prices of media company shares on Friday were:
