Sharewatch: ITV Rises As Hollick Fuels Bid Speculation

Commercial broadcaster ITV plc saw a dramatic increase in share price, rising by 4.21% to close, at 111˝p. It was announced yesterday that the out-going chief executive of United Business Media, Lord Hollick, had been hired by Kohlberg Kravis Roberts, and reports stated he would consider making a bid for the ITV, claiming the purchase of the television network had a “nice ring to it” (see Hollick Considering ITV Takeover Bid).

Elsewhere, newspaper publisher Daily Mail & General Trust saw a slight increase in share after yesterday’s drop, increasing by 0.55% to close at 730p. Earlier this week London mayor, Ken Livingston, pledged to end the exclusive distribution deal between the company’s Metro newspaper and the Capital’s underground railway stations, paving the way for rivals such as Richard Desmond to launch titles aimed squarely at the lucrative commuter market (see Livingstone Opens Tube To Afternoon Freesheet).

Information publishers Reuters continued the upwards trend yesterday, jumping in share price by 2.49%, to close at 391źp. This was after the company reported that first quarter recurring revenues would decline by 1.5%, better than previously expected by marketers.

The FTSE 100 saw a rise of 16.7 points to close at 4,800.3, while the FTSE 250 also saw a increase of 44.2 points to close yesterday at 7,020.3.

The closing prices of media company shares on Thursday were: