Scottish Media won’t sell assets

World Brief

LONDON — Scottish Media Group, owner of the Scottish and Grampian ITV network franchises, has decided against selling its TV assets.

It was assumed that two big ITV companies, Granada and Carlton, would buy the franchises as part of the commercial network’s ongoing consolidation. Granada already owns 17% of SMG, so acquiring the additional shares would automatically have triggered a takeover under stock market rules, and go against current media ownership restrictions.

Instead, to ease SMG’s debt of £401 million ($629 million), the company is hanging a sale sign over its newspaper business, which includes the Herald, the Sunday Herald and the Glasgow-based Evening Times.

A number of publishing groups have already expressed interest, including the Guardian Media Group, Johnston Press, the Daily Mail & General Trust, Independent News & Media and Trinity Mirror.

More Scene

  • Ryan Murphy Pose

    Ryan Murphy on 'Showrunning as Advocacy' and the Post-Me Too 'Age of Enlightenment'

    LONDON — Scottish Media Group, owner of the Scottish and Grampian ITV network franchises, has decided against selling its TV assets. It was assumed that two big ITV companies, Granada and Carlton, would buy the franchises as part of the commercial network’s ongoing consolidation. Granada already owns 17% of SMG, so acquiring the additional shares […]

  • 'The Sinner' film premiere

    Jessica Biel Closes Her Kid-Friendly Au Fudge Restaurant

    LONDON — Scottish Media Group, owner of the Scottish and Grampian ITV network franchises, has decided against selling its TV assets. It was assumed that two big ITV companies, Granada and Carlton, would buy the franchises as part of the commercial network’s ongoing consolidation. Granada already owns 17% of SMG, so acquiring the additional shares […]

  • Comedy Converstion with L to R:

    Just for Laughs Festival Honors Tiffany Haddish, Hannah Gadsby, More

    LONDON — Scottish Media Group, owner of the Scottish and Grampian ITV network franchises, has decided against selling its TV assets. It was assumed that two big ITV companies, Granada and Carlton, would buy the franchises as part of the commercial network’s ongoing consolidation. Granada already owns 17% of SMG, so acquiring the additional shares […]

  • Paul Krassner Memoir Illustration

    Paul Krassner on Resisting With Humor

    LONDON — Scottish Media Group, owner of the Scottish and Grampian ITV network franchises, has decided against selling its TV assets. It was assumed that two big ITV companies, Granada and Carlton, would buy the franchises as part of the commercial network’s ongoing consolidation. Granada already owns 17% of SMG, so acquiring the additional shares […]

  • Just for Laughs Festival Montreal

    Just for Laughs Festival Is the Coachella of Comedy

    LONDON — Scottish Media Group, owner of the Scottish and Grampian ITV network franchises, has decided against selling its TV assets. It was assumed that two big ITV companies, Granada and Carlton, would buy the franchises as part of the commercial network’s ongoing consolidation. Granada already owns 17% of SMG, so acquiring the additional shares […]

  • National Comedy Center Set To Open

    National Comedy Center Set To Open During Lucille Ball Fest

    LONDON — Scottish Media Group, owner of the Scottish and Grampian ITV network franchises, has decided against selling its TV assets. It was assumed that two big ITV companies, Granada and Carlton, would buy the franchises as part of the commercial network’s ongoing consolidation. Granada already owns 17% of SMG, so acquiring the additional shares […]

More From Our Brands

Access exclusive content