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UTV Looks Across Irish Sea to Target Scottish TV Group

News, 21 August 2006

UTV, the Northern Irish commercial radio and TV group, is wooing its Scottish counterpart SMG, owner of STV and Virgin Radio.

The romantic glint in UTV's eyes is reportedly worth around £400 million ($757.6m; €588.7m), according to a report in Friday's The Times. However, the object of UTV's affections - which is marginally the larger of the two groups - is playing it cool and has yet to respond to the soft lights and sweet music.

Both companies are listed on the London Stock Exchange. UTV has a market capitalisation of £175m, whereas SMG is valued at £221m. The former is understood to have mooted a nil-premium merger to the Scottish group.

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