Media
Scottish Radio Holdings has issued a statement to the London Stock Exchange regarding SMG's decision to sell its stake in the company to Emap.
SRH's board said:
"While the sale by SMG is not a surprising development the SRH Board were
disappointed that SMG ignored our offer to assist in placing the shares.
Nonetheless we look forward to a more constructive and mutually beneficial
relationship with Emap.
"SRH's strategy remains to continue to build its strength across radio and weekly
press, grow audiences, circulations and operating margins still further and make
selective acquisitions whilst husbanding the Company's financial resources. The
Group's Board continues to look forward to good prospects during the course of
the year and beyond."
SRH's board said:
"While the sale by SMG is not a surprising development the SRH Board were
disappointed that SMG ignored our offer to assist in placing the shares.
Nonetheless we look forward to a more constructive and mutually beneficial
relationship with Emap.
"SRH's strategy remains to continue to build its strength across radio and weekly
press, grow audiences, circulations and operating margins still further and make
selective acquisitions whilst husbanding the Company's financial resources. The
Group's Board continues to look forward to good prospects during the course of
the year and beyond."
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