Business
Disposals
Disposals.
About this update from Stv Group Plc
[{"type":"text","content":"\n SMG PLC\n13 September 2006\n\n\n SMG Announces Sale of Cinema and Outdoor Businesses\n\n\nThe Board of SMG plc ('SMG') announces today (13 September, 2006) its decision\nto dispose of the Group's cinema and outdoor advertising businesses, Pearl &\nDean and Primesight.\n\nPearl & Dean generates 25% of cinema advertising revenues in the UK and Republic\nof Ireland through 989 screens at 315 cinemas. Primesight owns 13,500 six sheet\noutdoor advertising panels across the UK and a further 141 large format\nBacklight panels, principally in the London area.\n\nThe sale process has been initiated and Hawkpoint Partners Limited has been\nappointed to act for SMG in connection with these transactions.\n\nCommenting on the announcement, Chris Masters, SMG's Chairman, said:\n\n'SMG's future strategy is firmly based on strong television, radio and online\nbrands; exciting content; and close connection with our audiences. Having\nreviewed the Group's businesses, the Board believes that, while Pearl & Dean and\nPrimesight are excellent advertising businesses, they are no longer core to the\nGroup.'\n\n\nEnds 13 September, 2006\n\n\nFurther enquiries:\n\nSMG plc\nDonald Emslie, Acting Chief Executive 020 7882 1199\nGeorge Watt, Group Finance Director\nCallum Spreng, Group Communications Director\n\nBrunswick Group LLP\nJames Hogan 020 7404 5959\nSimon Sporborg\nAsh Spiegelberg\n\nHawkpoint Partners Limited\nSimon Gluckstein 020 7665 4500\n\nHoare Govett\nSara Hale 020 7678 8000\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2070,"tagName":"div"}]