GLASGOW: SMG, the underperforming Scottish television and radio company, has rejected a merger approach from Ulster Television, according to reports in the UK's Independent on Sunday newspaper.

Talks between the two, however, are reportedly continuing in hopes of thrashing out an 'acceptable proposal' that could see UTV take control of SMG.

A union would create a company with a market value of around £400 million ($752.3m; €587.3m).

Both parties remain zip-lipped.

Data sourced from The Times Online (UK); additional content by WARC staff