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Article: Mirror Group profits reach all-time high
- Article from:
- The Independent (London, England)
- Article date:
- March 14, 1997
- Author:
CopyrightCopyright 1997 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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Mirror Group, the newspaper publisher, yesterday all but ruled
out a takeover of Scottish Television, in which it has a 20 per
cent stake, even if media ownership rules are relaxed under a new
Labour administration.
"It would be difficult to acquire STV because we would then have
an interest in all the number one media brands in Scotland," said
David Montgomery, the Mirror's chief executive. "Clearly questions
would be raised about a monopoly situation."
Mirror Group owns the Daily Record, the best-selling tabloid in
Scotland, while STV's pounds 120m purchase of Caledonian Publishing
included the Herald, Scotland's leading broadsheet title. Under the
Broadcasting Act newspaper publishers ...