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Guardian sells out of GMTV

Scottish Media Group, Carlton Communications and Granada Group today all increased their shareholding in breakfast broadcaster GMTV. Each of the three companies upped their stakes in GMTV by 5% to 25%. The shares were bought from Guardian Media Group which sold the entirety of its 15% stake in the company.

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The three-way split of the shares comes after reports in September that SMG was keen to launch a full £130 million takeover bid for GMTV. The remaining 25% of GMTV, which could prove crucial in any battle for control of GMTV between the ITV companies, is owned by the Walt Disney Company.

A potential tussle over GMTV is part of a wider shakeup in the TV industry as the major companies jockey for position in a consolidating sector.Last year Carlton Communications announced a merger with United News & Media which will bring together the Carlton London, Central, West Country, Meridian and Anglia TV companies under a single company.

Meanwhile, Granada Group, which operates the London Weekend and Granada ITV franchises, is widely thought to be considering takeovers of SMG or GMTV. But if SMG succeeds in taking over the breakfast broadcasters the two companies combined could be too big for Granada to take on.



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