GLASGOW: Underperforming Scottish television and radio group SMG has hung up the 'for sale' notice at its cinema and outdoor advertising divisions as it reported a 38% rise in half-year profits.
Its Pearl & Dean business generates 25% of cinema ad revenues in the UK and Ireland, while Primesight owns 13,500 outdoor advertising panels across the UK.
SMG, which owns the ITV commercial television franchise in Scotland and Virgin Radio, has been in on-off merger talks with Northern Irish broadcaster Ulster Television. It is widely thought the sell-off announcement is linked with these discussions.
Chairman Chris Masters, however, is non committal, saying only: "Having reviewed the group's businesses, the board believes that, while Pearl & Dean and Primesight are excellent advertising businesses, they are no longer core to the group."
Data sourced from MediaGuardian.co.uk; additional content by WARC staff