SMG is changing its name to stv Group following the sale of Virgin Radio and its outdoor advertising business Primesight.
The company is taking the name of its TV subsidiary stv as its overall corporate identity, with SMG chief executive saying that the move marks a return to the company’s roots.
Rob Woodward, chief executive, said: “Our core TV business is outperforming and I am confident that the strategy we are executing in regional advertising, content and digital media will deliver significant growth.
“The new name we propose, stv Group, reflects the company’s focus and uniqueness in the Scottish media market.”
In a statement, the board said that trading continues in line with expectations, with the company expecting a cash benefit of £10 million across the period 2008 to 2011.
The company added that its reach is strong in Scotland with four watching stv every week, with a 26% share for its premier news programmes.
SMG recently confirmed the sale of Virgin Radio to a consortium including The Times of India Group for £53 million by the end of June (see Virgin Radio Sold).
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