13th Sep 2006 07:04
SMG PLC13 September 2006 SMG Announces Sale of Cinema and Outdoor Businesses The Board of SMG plc ("SMG") announces today (13 September, 2006) its decisionto dispose of the Group's cinema and outdoor advertising businesses, Pearl &Dean and Primesight. Pearl & Dean generates 25% of cinema advertising revenues in the UK and Republicof Ireland through 989 screens at 315 cinemas. Primesight owns 13,500 six sheetoutdoor advertising panels across the UK and a further 141 large formatBacklight panels, principally in the London area. The sale process has been initiated and Hawkpoint Partners Limited has beenappointed to act for SMG in connection with these transactions. Commenting on the announcement, Chris Masters, SMG's Chairman, said: "SMG's future strategy is firmly based on strong television, radio and onlinebrands; exciting content; and close connection with our audiences. Havingreviewed the Group's businesses, the Board believes that, while Pearl & Dean andPrimesight are excellent advertising businesses, they are no longer core to theGroup." Ends 13 September, 2006 Further enquiries: SMG plcDonald Emslie, Acting Chief Executive 020 7882 1199George Watt, Group Finance DirectorCallum Spreng, Group Communications Director Brunswick Group LLPJames Hogan 020 7404 5959Simon SporborgAsh Spiegelberg Hawkpoint Partners LimitedSimon Gluckstein 020 7665 4500 Hoare GovettSara Hale 020 7678 8000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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