Broadcast News

Bookmark and Share

ITV Declines To Take Up Rights In SMG Fund Drive

ITV has confirmed that it will not take up its rights in SMG’s fund raising drive.
SMG is planning to raise more than £95 million through a rights issue which closes this morning to cut debt and avoid a cut-price sale of its Virgin Radio station.
However, ITV which owns just under 17% of SMG, said that shares in the smaller company are now just 15.25p
The shares have now slipped back from their level before the rights issue announcement.
According to financial experts, ITV would have needed to lay out about £15 million to take up its rights.
The decision comes at a time when ITV is focused on revamping the business as well as cost cutting to deliver £40m of savings by 2008.
SMG chief executive Rob Woodward hopes the fund raising will help to cut its debt from about £170m to £40m, leaving it able to deal better with strong advertising markets.
Solidmate Ltd Memory Card Hire London

Top Related Stories
Click here for the latest broadcast news stories.

Nominations For RTS Television Journalism Awards 2018 Announced
The Royal Television Society (RTS) has announced the nominations for the RTS Television Journalism Awards 2018. The awards ceremony, sponsored by Gues
RTS Announces Nominations For North West Awards 2017
The Royal Television Society (RTS) North West Centre has announced the nominations for its annual awards, at an event sponsored by Audio Network. Cat
Production News : ITV Confirm New Game Show
Jason Manford has been announced as the host for a new game show for ITV. Every week, Bigheads will see some 'famous faces' go head-to-head in a fast
SMG settles differences with ITV over digital rights
Following the recent sale of The Scottish Media Group's (SMG) 25% GMTV stake held to ITV plc, the two companies have reached an agreement on the use o
Production News : Production Begins On ITV's New Drama 'Clean Break'
Production has started on ITV's new drama Clean Break . ITV announced that Sheridan Smith has begun filming as Sam in the drama, produced by Sister Pi
Production News : ITV Unveils New Commission
ITV has released details regarding a new mini-series called Cheat. The four-part drama focuses on the relationship between university professor Leah a
Production News : ITV Announces New Consumer Series
ITV has announced details of a new three-part series, How To Spend It Well At Christmas (W/T). The consumer series will be hosted by Phillip Schofield
ITV Appoints Huw Kennair-Jones
ITV has appointed Huw Kennair-Jones to it's drama commissioning team. Kennair-Jones, most recently Editor of Radio 4's The Archers, will move to ITV t
ITV Sport Archive Features Diverse Collection Of Sports
The ITV Sport Archive features multi award-winning coverage and commentary from the world's most famous and celebrated sporting moments. A diverse col
Production News : ITV Leaders' Debate Returns To MediaCityUK
ITV has confirmed that the doc10 studios at MediaCityUK in Salford will be the venue for The ITV Leaders' Debate, which will be broadcast live on ITV
Panasonic's VariCam LT Chosen For ITV Drama
Panasonic's VariCam LT has been chosen by ITV Studios as the primary camera for the emotional factual drama, Little Boy Blue. The drama documents the
Vimond Media Solutions Announces Improved Workflow For Rights Manager
Vimond Media Solutions has announced the launch of an improved version of the Rights Manager module at NAB 2017. The solution has been developed in cl
RTS North West Announce Awards Shortlist
The Royal Television Society (RTS) North West Centre has announced the shortlist for its annual awards at an event hosted by CBBC presenter Lauren Lay
ITV ARE to form a new division, ITV Interactive, as the unified home for all online and interactive activities and the portal operations of ITV Active
ITV Employs Spectra Logic Modern Archive Solution
Spectra Logic has announced that ITV has selected two Spectra® BlackPearl® Converged Storage Systems and two Spectra® T950 Tape Libraries to protect a