06/03/2007

A Labour peer who last year tried, but failed, to take control of the radio arm of SMG has been appointed to the board of SMG.

Labour peer, Lord Waheed Alli, was last year hoping to buy Virgin Radio from SMG for £100 million. But he failed to receive enough backing from shareholders.

Alli is one of two board appointments announced yesterday by SMG. They follow wholesale changes to the board last week, which saw a new chief executive, Rob Woodward, and a new chair, Richard Findlay, installed. The other appointment is Jamie Matheson. Alli and Matheson have both been appointed non-executive directors.

Matheson is the executive chair of Brewin Dolphin Holdings plc. He was previously a non-executive director of Scottish Radio Holdings plc until its sale, two years ago, to Emap, and is currently a non-executive director of AiM VCT2 plc. Richard Findlay is a former chief executive of Scottish Radio Holdings. 

Alli is currently chair of Chorion Ltd and of AIM-listed Asos plc. He is also a director of Olga Television Ltd. He was previously managing director of Planet 24 Productions Ltd and managing director of Carlton Television Productions Ltd. 

In a statement to the City, SMG said: “Following the board changes announced last week and today, the Board has decided to postpone the announcement of SMG's preliminary results for 2006 to 12 April in order to provide sufficient opportunity for it to review the group's strategy and future options. Full details of the new arrangements will be announced in due course.”

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