City File: Merger test

Click to follow
The Independent Online
THE merger of Yorkshire and Tyne Tees brought together two TV companies that made high bids to retain their ITV franchises. The merger has led to nearly 300 redundancies and savings or around pounds 10m a year. But is it enough? Tuesday's announcement of results for the year to 30 September should give some clues, although the period in question was under the old regime.

Expectations are for a 50 per cent hike in the combined group's profits to around pounds 20m. If this is so, the City will be much happier with the bids and will expect profits of around pounds 10m for the current year.

Comments