Get a demo Do I subscribe? News sign-up
Download PDF
Print

Goldman Sachs to Challenge Scottish Radio Bid Talks

News, 22 December 2000


Following friendly merger talks between the respective chairmen of Scottish Media Group and Scottish Radio Holdings [WAMN: 21-Dec-00], US investment bank Goldman Sachs aims to toss a spanner into the works with a rival bid.

According to yesterday’s Daily Telegraph, the bank is attempting to cobble a consortium to mount a bid for SRH. The Goldman plan is for each of five British radio companies to take a 20% stake, thereby avoiding the competition problems that may beset a bid by Scottish Media Group.

The Goldman quintet is said to comprise magazine and radio group EMAP, GWR, media conglomerate Chrysalis, GWG.L, and the Rupert Murdoch/Kelvin MacKenzie-owned Wireless Group.

SRH shares leapt almost 7% at the news, closing yesterday at £17.10.

News Source: CampaignLive (UK)