Sharewatch: Trinity Mirror Continues Upward Trend
Newspaper giant Trinity Mirror continued its upward trend yesterday, seeing a 4.8% rise in share price, to close at 666˝p on Wednesday. Despite a positive trading statement last week Trinity share prices have been in decline recently, however, private equity group CVC Capital Partners is said to be analysing the company to see how much it would be worth paying for, with rumours of a possible £2 million takeover bid.
Elsewhere, specialist magazine company, Future Publishing has seen a tumble in share prices, losing 2.78% to close at 70p yesterday, despite recently broadening their portfolio with by acquiring Beach Magazines and Publishing Ltd (see Future Expands Portolio With Beach Acquisition).
Satellite heavyweight BSkyB has also seen a drop in share price going down 0.79% to close on Wednesday at 563p.
This comes despite announcing its plans to launch Sky Text, its digital text service on Freeview, hoping to tempt potential subscribers away from the free-to-air system with a further demonstration of its own-brand satellite content services (see Sky To Launch Text Service On Freeview).
The FTSE 100 continued to do well yesterday, adding 5.4 points to close at 4,728.2, while the FTSE 250 performed admirably, climbing by an impressive 42.2 points to 6,757.9.
The closing prices of media company shares on Wednesday were:
