The UK’s biggest commercial radio group Capital Radio yesterday saw its shares sag almost 6% following the publication of a governmental white paper mooting a relaxation of media regulation [WAMN: 13-Dec-00].
Despite ministers’ plans to allow more media consolidation, the retention of a points system curbing the growth of radio companies has led to uncertainty over how such consolidation can be achieved.
As a result, banking group ABN Amro changed its advice on Capital shares from ‘buy’ to ‘hold’. The radio group’s stock fell 5.87% to £12.62.
News Source: CampaignLive (UK)