SMG and UTV in merger talks
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SMG and UTV in merger talks

Virgin Radio owners SMG have announced this morning they have received a merger proposal from UTV. It follows months of speculation about a UTV take-over bid for SMG.

The statement comes after The Times newspaper reports that UTV?s adviser, Numis Securities, has held discussions with Citigroup, the bank that advises SMG, and suggested the possibility of a merger of equals between the two Celtic broadcasters.

The deal would see the newly merged group owning both national AM stations talkSPORT and Virgin Radio, along with over 20 local stations in the UK and Ireland.

The Scottish Media Group also say that a further announcement will be made in due course.

Hear more radio industry news like this at the top of the hour on inRadio - the radio industry's very own radio station. Listen now in a new window whilst you continue reading RadioToday or press play below.

0 0 387 18 August, 2006 Industry News 7:49 am 20068 Friday, August 18th, 2006

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