Scottish Television confirmed this afternoon that it is in takeover talks with Caledonian, the publisher of The Herald and Evening News in Glasgow.
Gus Macdonald, STV’s chairman, said: “Scottish Television and Caledonian Publishing are both successful companies with scope for growth in their own sectors. In discussions over recent months the managements of Scottish Television and Caledonian have identified many areas in which the quality and profitability of their businesses could be enhanced through combining the two companies.”
STV also announced that it is expected to make its highest ever first-half profits in the six months ended 30th June 1996. The improved profit performance reflects a continued improvement in advertising revenues, increased programme deliveries, and strict cost controls.
STV: 0141 300 3000
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