Never mind all this minor presentation stuff! What would be interesting about a UTV/SMG merger is what they'll do with their radio stations - the merged company would own 2 out of the 3 national commercial stations: TalkSport and Virgin Radio.
If they're allowed to keep both, along with all the other UTV stations, then they'd probably be the biggest radio group in the UK
They would probably be second largest, with GCap Media in first who own many of the stations in the UK. It's likely Ofcom will make them sell one of the national stations.
It has been reported in todays Irish News that SMG is the short term target, and that in the long run the combined UTV/ SMG will then be in a position to take over ITV, which will be one of the new company aims. Watch out England and Wales Julian may be arriving shortly on a friday night.
It appears that the merger will not take place under the current conditions(50/50 split, SMG worth around £225M, UTV £175M). ITVplc have said that this represents poor value for SMG shareholders and that they would not sanction the deal under these conditions.
If nothing else, this attempt at a reverse takeover may serve to smoke out other potential suitors, such as Rob Woodward, D.C Thomson and even Apax Partners.
VIRGIN radio owner SMG has received a merger proposal from TalkSport owner Ulster TV.
A deal would create a £400 million combine owning the Northern Ireland and two Scottish ITV franchises.
Shares of SMG rose 2p to 72 while Ulster added 26p to 344.25.
Well I don't know whether to be for or against this merger because if they join forces they would take on the network and get on together very well but would their regional identity go down the pan like the rest of ITV?
I wouldn't be surprised if a venture capitalist firm came along and bought it and split the company up. It looks as thoughSMG's days are numbered as an independent company .
So the response from SMG is not a yes or no, but a come back with an improved offer. If a cash bonus to SMG shareholders is offered by UTV, the merger may go ahead.
