SMG keeps an eye on Maiden sale
SMG, the Glasgow media company, said last night it was "watching the situation closely" after one of its biggest rivals in the outdoor advertising market put itself up for sale.
The group would not be drawn on whether it had put in a preliminary approach to Maiden, which said it was already in talks with a string of potential bidders after asking NM Rothschild to examine its future options.
Early favourites to acquire the business include chief executive and major shareholder Ronald Zeghibe, who could try to engineer a management buy-out. Rivals such as JC Decaux or Viacom Outdoor could be interested, while SMG - which owns Primesite as well as STV, Grampian, Virgin Radio and Pearl & Dean - could pounce in the new year.
Maiden's shares rose 20 per cent, to 91.5p, valuing the business at close to £50m, after its board said discussions were at an early stage.
Maiden has panels at more than 500 railway stations around the UK and its retail division controls the advertising rights to about 118 shopping centres.
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