Scottish Media Group PLC
24 November 1999
Scottish Media Group plc and Ginger Media Group
Following recent press speculation, Scottish Media Group plc ('SMG') wishes to
make its position clear.
In the past five years, SMG has followed a successful strategy focused on
improved operational efficiency, organic growth and value-enhancing
acquisitions. It is the Group's stated intention to build a leading, UK-wide,
media company founded on well-branded national assets, including radio. The
radio sector is the UK's fastest-growing commercial medium and is forecast to
continue increasing its share of UK advertising.
SMG confirms that it is in preliminary discussions with Ginger Media Group
('GMG') which may, or may not, lead to an offer being made to acquire GMG.
The business, which is well positioned for future growth, encompasses two
highly successful radio franchises and a developing TV production business.
In the light of comments attributed to executives from Granada Group PLC
today, Don Cruickshank, Chairman of SMG, said:
'Ginger Media Group is an interesting opportunity, which we are currently
evaluating, but there is no transaction for shareholders yet to contemplate.
I can assure shareholders that, as our track record demonstrates, we will
proceed only, and always, in the best interests of shareholders as a whole.
Granada's comments lack proper knowledge, are premature and are simply
self-serving.'
A further announcement will be made, if appropriate.
Further enquiries:
Don Cruickshank, Chairman 0141 300 3640
Andrew Flanagan, Chief Executive
Gary Hughes, Group Finance Director
Callum Spreng, Director of Corporate Affairs
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