The TV sector was extremely volatile last week mainly as a result of BDB winning the digital terrestrial licences. Those involved in the consortium profited whilst those outside saw prices fall. Carlton rose 8.5p on Monday to 525p and finished the week on 526p, while Granada initially rose 19.5p to 854.5p. It then fell 25p however on Thursday as its buyout of YTTV was finalised. Yorkshire also dropped 17.5p to 1140p.
Granada slipped again on Friday to 805p. This may have been due to the other big news which was United News & Media’s takeover of HTV. The Western broadcaster was clearly seen to benefit most from this tie-up as its shares rocketed 84.5p to 415p while UNM slipped 9.5p to 714.5p.
w/e 27/06/97
Monday
Tuesday
Wednesday
Thursday
Friday
Carlton
516.5
525
529.5
537.5
526
Granada
835
854.5
844
819
805
YTT TV
1155
1155
1157.5
1140
1140
HTV
327.5
329
330
330.5
415
Scottish Media
692.5
690
690
690
689
BSkyB
486.5
467.5
471
455.5
453.5
Border
376.5
374
374
371.5
379
Grampian
315.5
315.5
316
316
316
It was another bad week for BSkyB. Its forced exclusion from the BDB consortium meant that its shares fell 19p on Tuesday and though it did recover briefly on Wednesday, the satellite broadcaster fell 15.5p on Thursday and 2p on Friday to reach 453.5p.
Reports that Cable & Wireless Communications was planning a merger with Telewest helped in sending C&W’s shares up 10 to 319.5p and Telewest 5 to 99p.
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