LONDON (Brand Republic) - Scottish Radio Holdings has confirmed that it is in talks with a potential buyer, widely believed to include Scottish Media Group.
Shares in Scottish Radio Holdings, which owns Radio Clyde and newspapers in Scotland and Northern Ireland, jumped 6.6% to 1,710p yesterday following the revelations.
Other bidders are believed to be the UK’s biggest radio broadcaster Capital Radio, and GWR. Clear Channel International, the US radio, entertainment and outdoor advertising group, is also considering a bid.
Scottish Media Group already owns 20.8% of Scottish Radio after a dawn raid earlier this month. A merger of the two companies could meet with regulatory disapproval as SMG owns the ITV franchises Scottish and Grampian and, under existing regulations, would not be allowed to own radio stations in these broadcasting regions.
Under the government’s new communications white paper, however, Granada and Carlton would be free to buy SMG’s ITV franchises.
This article was first published on brandrepublic.com