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SMG further underlined its plans to focus on television yesterday by announcing plans to change its name to STV.
SMG has completed a the sale of Virgin Radio to a group backed by Indian media giants TIML for £53.2 million.
VIRGIN Radio will disappear as a brand name under the terms of a £50-60 million sale negotiated by its owner SMG.
SCOTTISH Media Group has posted bottom-line losses of almost £85 million for 2007 after a series of asset write-downs, but the company yesterday insisted its turnaround programme is on track.
SMG is today expected to outline a long-awaited deal to offload Virgin Radio for about £60 million alongside its annual results.
THE conference room window of SMG's Pacific Quay headquarters provides a panoramic view of Glasgow's newest bridge, the so-called 'Squinty', which unites the banks of the Clyde in a diagonal arch.
TV production executive Alan Clements may find the job he is to take up at SMG is no longer available due to delays in being released from his contract with RDF Media.
HUNDREDS of staff at STV are threatening to strike next month over a pay freeze.
STV owner SMG has confirmed that its rights issue raised the £95.1 million it had expected.
ITV, the biggest shareholder in broadcaster SMG, will not take up its rights in the STV owner's fundraising drive.
DEBT-LADEN broadcaster SMG moved closer to overhauling its finances yesterday, unveiling a new five-year £90 million loan facility with HBOS.
SMG chief executive Rob Woodward appears to have pulled off a financial rescue deal which provides the embattled media group with breathing space in which to turn around its fortunes after tapping investors for £95 million.
SMG, owner of Scottish Television, has launched a £95.1 million rights issue in a bid to slash its debt - a move that knocked around 12 per cent off SMG's share price.
SCOTTISH Television will screen rugby again with a new half-hour programme hosted by Richie Gray.
ALAN Clements, the television programme maker and husband of Newsnight presenter Kirsty Wark, was yesterday at the centre of a High Court battle over his decision to leave the TV company RDF for rival Scottish Media Group.
SMG is believed to be in talks with Richard Branson's Virgin Group to form a separate company which would combine both of their radio resources.
SMG is maintaining a "business as usual" response to a collapse in its share price that has left the company worth little more than it was hoping to get from the sale or flotation of Virgin Radio.
THE sale of Virgin Radio by SMG is likely to take place within the next six months, according to analysts.