Media
Emap has bought Scottish Media Group's stake in Scottish Radio Holdings in a cash transaction of £90.5m.
Gary Hughes, Emap's group finance director, explained:
"'We believe that there will be opportunities for consolidation within the UK
radio sector now that the Communications Bill has been enacted. Against this
background, we regard the stake in SRH as an attractive strategic asset."
The group says that at this stage it has no plans to acquire the other outstanding shares in SRH unless another firm either announces plans to make an offer for SRH, or acquires a stake equal to or greather than 20% in SRH.
Gary Hughes, Emap's group finance director, explained:
"'We believe that there will be opportunities for consolidation within the UK
radio sector now that the Communications Bill has been enacted. Against this
background, we regard the stake in SRH as an attractive strategic asset."
The group says that at this stage it has no plans to acquire the other outstanding shares in SRH unless another firm either announces plans to make an offer for SRH, or acquires a stake equal to or greather than 20% in SRH.
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