Scottish Media Group Ups its Stake In Local Rival

08 March 2001

Acquisitive communications giant Scottish Media Group has paid £14.6 million for a further 2.8% of media rival Scottish Radio Holdings, lifting its total stake to 27.7%.

SMG, which controls Scottish Television, Virgin Radio and Glasgow’s The Herald daily newspaper, is widely believed to be laying the foundations for a takeover bid when media ownership restrictions – currently under review by the UK government – are relaxed.

SRH owns radio stations and newspapers in Scotland as well as the Republic of Ireland and Northern Ireland. It is also applying for digital radio licenses across England.

Such a media marriage, if it takes place, would create a Caledonian colossus capable of major expansion throughout Britain and elsewhere.

News Source: CampaignLive (UK)