Media
ITV looking to Pearl & Dean to raise fortunes
Published Monday, Sep 25 2006, 14:25 BST | By Joanne Oatts
ITV is reported to be one of the 40 companies bidding for cinema advertising firm Pearl & Dean, put up for sale by the Scottish Media Group (SMG) last week. Other bidders include US-owned media giant Clear Channel.
Pearl & Dean, reportedly worth £20m, currently holds 25% of the cinema advertising market.
Carlton Screen Advertising, which has the remaining 75% share, is already owned by ITV. Any bid for Pearl & Dean would bring the deal to the attention of the government's Competition Comission.
Donald Emslie, acting chief executive of SMG, said the sale of Pearl & Dean and its outdoor advertising arm Primesight, would allow SMG to concerntrate on its Scottish television franchises, TV production business, Virgin Radio, and on developing its online activities.
According to Broadcast, ITV is also selling off the US arm of its movie advertising business Screenvision US to French company Thompson Group.
Pearl & Dean, reportedly worth £20m, currently holds 25% of the cinema advertising market.
Carlton Screen Advertising, which has the remaining 75% share, is already owned by ITV. Any bid for Pearl & Dean would bring the deal to the attention of the government's Competition Comission.
Donald Emslie, acting chief executive of SMG, said the sale of Pearl & Dean and its outdoor advertising arm Primesight, would allow SMG to concerntrate on its Scottish television franchises, TV production business, Virgin Radio, and on developing its online activities.
According to Broadcast, ITV is also selling off the US arm of its movie advertising business Screenvision US to French company Thompson Group.
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