UTV makes new merger proposal for SMG
Northern Irish broadcaster Ulster Television Plc has approached its Scottish-based peer SMG Plc with a new merger proposal that could create a media group worth about 400 million pounds ($781.1 million), the Times reported on Thursday, without citing sources.
Spokesmen for both media companies declined to comment.
UTV had approached SMG, the owner of Virgin Radio and most of Scotland’s commercial TV network, earlier this year but in September said it had ended merger talks because of weak advertising markets.
A month earlier, SMG said it had rejected a merger proposal from UTV that would have given SMG shareholders a 52 percent stake in the combined firm.
The Times said the latest proposal was for a nil-premium merger.
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