Despite Ulster TV seeing a drop in its profits on Thursday, the announcement that there could be a share buy-back lifted the broadcaster 38.5 to 237.5p. This could be a defensive move to block any attempt by Scottish Media to mount a hostile takeover.
Granada benefited from a positive note by Dresdner Kleinwort Benson, which praised the group’s involvement in British Digital Broadcasting. Granada rose 3 on Wednesday to 805.5p while its BDB partner Carlton jumped 5.5 to 506.5p. Carlton had also benefited earlier in the week when its announcement of a film library acquisition (subscribers see Carlton Buys More Films) helped lift shares 11.5 to 501p.
BSkyB suffered slightly when Credit Suisse First Boston issued a sell note. The satellite broadcaster fell 3 to 435p on Wednesday, though it had risen to 441p by Friday.
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