Shares sale brings to an end ITV’s stake in STV

THE sale of a chunk of shares in the Glasgow-based broadcaster, STV, has ended any prospect of STV “falling into ITV’s hands”, writes the business editor of The Scotsman and Scotland on Sunday newspapers.

It follows the sale by ITV of a reported 6.79 per cent stake it had in STV Group plc, for £7.5 million, valuing the shares at 285p each.

And writes Terry Murden, in today’s Scotsman: “Yesterday’s sale of its last remaining shares ends any prospect of STV falling into ITV’s hands, a move that has political as well commercial ramifications ahead of a year when Scottish broadcasting will inevitably come under the spotlight.

“On a purely commercial level, the two companies now co-exist after years of squabbling over naming rights and network agreements.

“A new era of co-operation should bode well for both, and STV has shown itself capable of surviving against the odds and able to develop opportunities to provide productions to a range of buyers that includes the BBC.”

Pic: Graeme Hunter.