SMG announces £62m Primesight sale

Scottish Media Group (SMG) has announced it has agreed to sell off its outdoor advertising arm to private equity business GMT Communications Partners (GMT), a private equity group, for £62m.

In the proposed deal, SMG would receive £52m cash with a further £10m to come dependent on profit targets. SMG says it will plough funds from the sale into paying off its large debt.

The group says that performance at its television and cinema advertising arms and the Virgin Radio brand are meeting expectations.

Announcing the deal SMG chief executive Rob Woodward said: “This is a good price for the business and clearly ahead of where we were in the previous sale process. This is a strong example of the new board delivering on its promises.

The proceeds of the sale will strengthen SMG’s balance sheet while freeing the management team to concentrate on the turnaround of the television business and the disposal of our other non core businesses.”

The Primesight deal comes after UTV declared its interest in snapping up Virgin Radio, which SMG is expected to float later this year.
Primesight had been up for sale but a new board took it off the market saying the price was too low.

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email

If you are looking for our Jobs site, please click here