Wednesday, September 21, 2016

All go

Activist investment fund Crystal Amber has nudged up its shareholding in Johnston Press by 1,955,000, giving it 5.42% of total voting rights. Not expensive, at less than £300k. But JP and its other investors will be wondering, WHAT ARE THEY AFTER ?

Crystal Amber has also purchased, rather more expensively, a further 200,000 shares in STV, giving it 9.22% of the voting rights. STV tonight announced a pre-emptive strike on the so-called Scottish Six, still gestating at the BBC. It promises a new half-hour bulletin at 7pm, "a comprehensive service of Scottish, UK and international news from a Scottish perspective", which will be carried on STV2, on big city channels and streamed online.

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