BELFAST: In the wake of two previous failed merger attempts - the second as recently as September - Scottish Media Group has pulled out from the third round of discussions with Northern Ireland-based Ulster TV.
The earlier talks collapsed after SMG insisted on a 52% stake in the merged entity, basing the demand on its [then] market capitalisation.
The reason for the latest failure is unknown, but the fallout at SMG has decimated the company's senior management. Out go chairman Chris Masters and four non-executive directors.
Masters is replaced by the former ceo of Scottish Radio Holdings Richard Findlay while Rob Woodward, former commercial director of Channel 4, takes on the vacant role of chief executive.
Data sourced from mad.co.uk; additional content by WARC staff