Sharewatch: Radio Groups In Focus As Shares Rise

Radio groups were seen in focus yesterday with Capital and GWR seeing shares rise by 2.41% and 0.58% respectively as they ploughed with merger plans. However, reports suggest the £711 million deal could be delayed by up to six months if advertisers and rival radio groups call for a full Competition Commission enquiry (see Capital/GWR Merger Could Face Competition Enquiry).

Emap also enjoyed a positive day’s trading as speculation intensified that the company is planning a take-over bid for Scottish Radio Holdings in the new year. Emap saw shares rise by 0.94% and Scottish Radio Holdings was up by 0.32% (see Emap May Move On Scottish Radio Holdings Next Year).

Reuters was the only media company to see any significant downward movement yesterday with shares dipping by 1.67%. The global information and news group recently announced that revenues fell by 4.4% to £528 million during the third quarter of this year (see Reuters Revenues Down 4.4% And Expects A Further Drop In Q4).

The closing prices of media company shares on Wednesday were: