Sharewatch: ITV Rises In Mixed Day For Media Stocks

The UK’s largest commercial broadcaster ITV put in a respectable performance yesterday, rising by 1.38% to close at 110p following a dismal few days for media stocks last week, when all but a handful experienced negative growth.

The company recently announced the appointment of Clare Salmon as its new marketing director, following the surprise departure of high-profile department head Jim Hytner from the role earlier this year. Hytner had been credited with rebranding the company in the run up to the £5.6 billion merger of Carlton and Granada, leaving Salmon with high expectations for her performance in the role (see ITV Lands Salmon To Head Marketing Division).

Elsewhere, newspaper publisher Trinity Mirror saw an increase of 1.67% on its share price, closing at 619˝p. The company recently installed Matt Harrison to the newly created position of newspaper sales director in its regional newspapers division, marking an increased focus on its regional operations (see Trinity Mirror Appoints Regional Newspaper Sales Director).

Radio group GWR continued to fall yesterday, losing 2.19% to close at 223p despite announcing increased profits of £6.9 million in the six months to September, a year on year rise of 12%, last week. However, the broadcaster has warned that the radio advertising market remains weak and that revenues may suffer in the future as a result (see GWR Profits Up Despite Weak Advertising Market).

The FTSE 100 performed well yesterday, adding 8.3 points to close at 4,749.8, while the FTSE 250 lost 4.3 points to close at 6,589.7.

The closing prices of media company shares on Monday were: