SMG PLC
13 September 2006
SMG Announces Sale of Cinema and Outdoor Businesses
The Board of SMG plc ('SMG') announces today (13 September, 2006) its decision
to dispose of the Group's cinema and outdoor advertising businesses, Pearl &
Dean and Primesight.
Pearl & Dean generates 25% of cinema advertising revenues in the UK and Republic
of Ireland through 989 screens at 315 cinemas. Primesight owns 13,500 six sheet
outdoor advertising panels across the UK and a further 141 large format
Backlight panels, principally in the London area.
The sale process has been initiated and Hawkpoint Partners Limited has been
appointed to act for SMG in connection with these transactions.
Commenting on the announcement, Chris Masters, SMG's Chairman, said:
'SMG's future strategy is firmly based on strong television, radio and online
brands; exciting content; and close connection with our audiences. Having
reviewed the Group's businesses, the Board believes that, while Pearl & Dean and
Primesight are excellent advertising businesses, they are no longer core to the
Group.'
Ends 13 September, 2006
Further enquiries:
SMG plc
Donald Emslie, Acting Chief Executive 020 7882 1199
George Watt, Group Finance Director
Callum Spreng, Group Communications Director
Brunswick Group LLP
James Hogan 020 7404 5959
Simon Sporborg
Ash Spiegelberg
Hawkpoint Partners Limited
Simon Gluckstein 020 7665 4500
Hoare Govett
Sara Hale 020 7678 8000
This information is provided by RNS
The company news service from the London Stock Exchange