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SMG and Ulster TV in merger talks SMG and Ulster TV in merger talks
(about 3 hours later)
The owners of radio stations TalkSport and Virgin are back in merger talks.The owners of radio stations TalkSport and Virgin are back in merger talks.
Ulster TV, which operates TalkSport, has approached Glasgow-based broadcaster SMG three months after it was rebuffed by its potential partner.Ulster TV, which operates TalkSport, has approached Glasgow-based broadcaster SMG three months after it was rebuffed by its potential partner.
SMG, which owns Scottish Television, said it would put its search for a new chief executive on hold while the merger discussions take place.SMG, which owns Scottish Television, said it would put its search for a new chief executive on hold while the merger discussions take place.
A successful tie-up would create a media group worth about £400m. SMG turned down two offers in late August.A successful tie-up would create a media group worth about £400m. SMG turned down two offers in late August.
Under City rules, UTV is prevented from making another offer until mid-March, although this does not apply if an agreement or recommendation from the board of SMG is forthcoming.
SMG added that good progress was being made on plans to sell outdoor advertising business Primesight and cinema counterpart Pearl & Dean.SMG added that good progress was being made on plans to sell outdoor advertising business Primesight and cinema counterpart Pearl & Dean.