UTV/SMG Merger Talks Abandoned

The ongoing merger talks between SMG and UTV have come to an end, with SMG abandoning the talks and appointing Rob Woodward as its new chief executive.

SMG said that talks ended as a result of differing views over the level of SMG’s pension liabilities.

SMG also appointed Richard Findlay, former boss of Scottish Radio Holdings, as chairman, replacing Chris Masters.

In addition, David Dunn, Steve Maine, Martyn Smith, MT Rainey and Tim Gardam have resigned from SMG with immediate effect.

SMG said it would be continuing with the disposals of advertising businesses Primesight and Pearl & Dean.

UTV twice approached SMG with a merger proposition, with the deal failing the first time because an agreement could not be reached on an evaluation.

SMG: 0141 300 3000 www.smgplc.plc.uk UTV: 02890 328122 www.utv.co.uk