SMG Extends Outdoor Interests

SMG has extended its outdoor interests with the acquisition of Town & District Posters Limited for a price that could reach £650,000.

The acquisition was made on Friday by SMG’s wholly owned subsidiary, Primesight, for an initial consideration of £350,000 with a further £250,000 becoming payable in SMG shares depending on the future performance of the company.

Commenting on the acquisition, Primesight’s managing director, Naren Patel, said: “Town & District Posters gives Primesight a strategic entry point into the London 48-sheet market. We intend to use this small but significant base to grow our outdoor advertising business organically and through further selective acquisitions.”

Primesight is part of SMG’s Out Of Home division, which combines outdoor advertising and cinema interests. Last month SMG’s wholly owned subsidiary, Pearl & Dean, was awarded the four-year contract to sell advertising across the UK and Ireland for UCG Cinemas (see SMG’s Pearl & Dean Secures Cinema Ad Deal).

SMG: 0141 300 3000 www.scottishmediagroup.com

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