SMG to shed cinema and outdoor advertising divisions

THE owners of stv yesterday announced plans to further concentrate on television, radio and websites, by saying it wishes to sell its cinema and outdoor advertising businesses, Pearl & Dean and Primesight, even though both businesses helped deliver healthy results in SMG’s latest six-monthly financial figures, also announced yesterday.

Said Chris Masters, SMG’s chair, of the Peal & Dean and Primesight decision: “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.”

Meanwhile, according to half-year financial results, between December 31 last year and June 30 this year, SMG’s pre-tax profits were up 38 per cent.