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Investors put pressure on SMG

Fidelity, one of the largest shareholders in SMG, is mounting pressure on the company to forge a 55/45 merger with rival UTV.

The Scottish Media Group have previously rejected merger offers from UTV of a 50/50 and a 52/48 partnership. The Business reports that the pressure is on for SMG chairman Chris Masters, who has already been forced to sacrifice chief executive Andrew Flanagan, to come to a decision. One shareholder told the newspaper: ?Both companies are playing hardball but it makes sense for them to start some serious talking.?

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