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

The end of digital doom-mongering is nigh... or is it?

The end of digital doom-mongering is nigh... or is it?

Digital prophets calling the doom of the old world are well past their sell-by date, says Mark Barber, planning director at the Radio Advertising Bureau.

Share
Mindshare's huddle: next generation technology and powering dreams

Mindshare's huddle: next generation technology and powering dreams

It's hard not to get caught up in the sheer 'wow' factor of Mindshare's annual huddle day, says Immediate Media's Toby Hicks.

Share
In pictures: Campaign Media Awards 2014

In pictures: Campaign Media Awards 2014

More than 550 leaders from media agencies, media owners and advertisers celebrated creativity in the media business at the Campaign Media Awards, held at the London Hilton on Wednesday 19 October.

Share

Get news by email