Scottish Media bids on VCI

Some shareholders disappointed with $51.8 mil offer

LONDON — Scottish Media Group has bid $51.8 million for VCI, the video publishing company chaired by Michael Grade, former chief exec of Channel 4.

For SMG — the parent of ITV network company Scottish Television — the move represents its first acquisition outside of Scotland.

However, some shareholders in VCI — which holds the rights to the “Thomas the Tank Engine” videos — expressed disappointment at the bid, arguing the company is worth more.

Last year, VCI posted sales of $178.6 million with a pre-tax profit of $9.9 million. SMG has underpinned its bid by buying 26% of VCI’s shares in the market.

More Biz

  • Mandatory Credit: Photo by AP/REX/Shutterstock (9178399b)Hillary

    Hillary Clinton Talks Russia, Trump, Putin and Midterm Elections at NYC Festival

    LONDON — Scottish Media Group has bid $51.8 million for VCI, the video publishing company chaired by Michael Grade, former chief exec of Channel 4. For SMG — the parent of ITV network company Scottish Television — the move represents its first acquisition outside of Scotland. However, some shareholders in VCI — which holds the […]

  • Richard Simmons

    Prosecutors Charge Private Eye With Illegal Spying on Richard Simmons

    LONDON — Scottish Media Group has bid $51.8 million for VCI, the video publishing company chaired by Michael Grade, former chief exec of Channel 4. For SMG — the parent of ITV network company Scottish Television — the move represents its first acquisition outside of Scotland. However, some shareholders in VCI — which holds the […]

  • Lionsgate General Counsel Left Amid Allegations

    Lionsgate General Counsel Left Amid Allegations of Sexual Abuse

    LONDON — Scottish Media Group has bid $51.8 million for VCI, the video publishing company chaired by Michael Grade, former chief exec of Channel 4. For SMG — the parent of ITV network company Scottish Television — the move represents its first acquisition outside of Scotland. However, some shareholders in VCI — which holds the […]

  • 'Hammerhead' Takes Top Honors at New

    'Hammerhead' Takes Top Honors at New York Television Festival

    LONDON — Scottish Media Group has bid $51.8 million for VCI, the video publishing company chaired by Michael Grade, former chief exec of Channel 4. For SMG — the parent of ITV network company Scottish Television — the move represents its first acquisition outside of Scotland. However, some shareholders in VCI — which holds the […]

  • Radiohead Coachella

    Radiohead Demands Answers in Drum Technician's Death

    LONDON — Scottish Media Group has bid $51.8 million for VCI, the video publishing company chaired by Michael Grade, former chief exec of Channel 4. For SMG — the parent of ITV network company Scottish Television — the move represents its first acquisition outside of Scotland. However, some shareholders in VCI — which holds the […]

  • Kevin Durant LeBron James

    Kevin Durant Praises LeBron James' Lakers Move

    LONDON — Scottish Media Group has bid $51.8 million for VCI, the video publishing company chaired by Michael Grade, former chief exec of Channel 4. For SMG — the parent of ITV network company Scottish Television — the move represents its first acquisition outside of Scotland. However, some shareholders in VCI — which holds the […]

More From Our Brands

Access exclusive content