UK's trade and industry secretary, Stephen Byers, gave approval for...

UK's trade and industry secretary, Stephen Byers, gave approval for consolidation in the country's independent television sector by lifting the 25% limit on advertising market share. This decision paves the way for a potential merger between Granada Media PLC, a subsidiary of Granada Group PLC, with either Carlton Communications PLC or United News & Media PLC.However, Mr. Byers stipulated that the proposed merger between Carlton and United could only proceed if the merged entity agrees to sell the license for the Meridian region within six months of the merger. Last November, Carlton and United had announced an intended £8.3 billion ($12.47 billion) merger that would give the combined company six of the 16 independent-television franchises and more than 25% of the advertising market.

Saturday, 15 July, 2000