UTV merger proposal confirmed by SMG
SMG, owner of STV and Virgin Radio, has confirmed that it has received
an all share merger proposal from UTV.
Under the terms of the proposal, SMG would own 50 per cent
of the merged company which would reportedly be worth an estimated
£400million.
SMG’s assets also include Ginger Productions, outdoor advertising
company; Primesite Pearl and Dean Cinema advertising. UTV owns the
Northern Ireland ITV franchise and recently purchased the Wireless Group
which included TalkSport radio.