SMG has bought a further 1.9% stake in Scottish Radio Holdings, its fourth acquisition of SRH stock since December last year and its second in under a week (see SMG Takes Further Stake In Scottish Radio). The 615,667 ordinary shares cost SMG 1,595p each, giving the deal a total value of £9.8 million.
SMG now owns 24.9% of Scottish Radio and a takeover move is thought to be on the cards.
At 1:00pm today SRH and SMG shares were both unchanged at 1,595p and 238½p respectively.
Scottish Radio Holdings: 0141 306 2242SMG: 0141 300 3000
UK media shares are monitored and listed daily in MediaTel Newsline’s Sharewatch
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