United and Carlton call off merger

Carlton Communications and United News & Media have cancelled their proposed merger.

But one of the Competition Commission's stipulations for the merger to go ahead was that United must sell its prized Meridian ITV franchise in the south of England. This condition, United and Carlton said in a statement, "undermined the merger's rationale and significantly reduces benefits to shareholders".

Initially, after winning approval for the merger, United chairman Lord Hollick released a statement implying that United would be prepared to sell Meridian. The failure of the merger now leaves the way open for rival Granada to seek a merger deal with either United or Carlton.

As the government has also ruled that a merged company may only own one London licence, a merger between Carlton and Granada seems unlikely as they both own London franchises.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Reed.co.uk sponsors Channel 5

Reed.co.uk sponsors Channel 5

Reed.co.uk, the job site, has signed a deal to sponsor Channel 5 shows as part of its 'Love Mondays' campaign.

Share
Attempts to revive Loaded fail, magazine to close after 21 years

Attempts to revive Loaded fail, magazine to close after 21 years

Loaded, a trailblazer in the men's magazine market in the nineties, is to close after 21 years following an unsuccessful attempt to breath new life into the title by publisher Simian Publishing.

Share
Does your PR strategy include GIFs?

Does your PR strategy include GIFs?

It should. A YouTube rep replied to a reporter with a GIF of a child shrugging and demanded the reporter run it.

Share

Get news by email