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 chairman, 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, from