Green looking for City comeback with St Ives offer

Michael Green, formerly one of the big players in ITV, believes that the humble printing industry is going through a digital revolution similar to that experienced in television.

It emerged yesterday that Mr Green, who was ousted in 2003 as chairman-designate of ITV plc, is making an attempt to return in a big way to his business roots in the printing sector, where he made his first fortune. His Tangent Communications is behind a £282m takeover bid for St Ives, which was yesterday rejected because it "significantly undervalues" the company. However the two sides agreed to meet later this week.

Mr Green said: "This is a very exciting industry. It is going from analogue to digital [technology], something I know very well from my days at ITV. Printing is going through a complete sea-change."

He said that computerisation meant that printers were now able to offer customers a much greater range of advanced services.

"Printing presses are now computers with presses attached to them... it is all about data management," Mr Green said.

Tangent, a small operator in the printing sector with a stock market value of £17m, believes that services such as mailshots for direct marketing need to be made more sophisticated. This would mean, for instance, that the mailings are targeted better to the household receiving them.

It is thought that Tangent believes that St Ives is not exploiting the digital opportunities available, and continues to work as an old-fashioned manufacturing business.

Mr Green, who left school with just four O-levels, started a printing business with his brother, making him a millionaire by the age of 21. Then, taking advantage of Thatcherite liberalisation of the commercial television industry in the 1980s, he built his company into a major force in ITV as Carlton Communications.

The crowning glory was supposed to come in 2003 when Carlton agreed to merge with Granada to finally form one ITV company, with Mr Green as chairman. However, a shareholder revolt led to his unceremonious sacking in late 2003.

Since then, Mr Green has re-immersed himself in the printing industry through Tangent, where he works with his two nephews, Nick and Tim.

Mr Green, who has a 45 per cent stake in Tangent, said that he had unsuccessfully tried to buy a number of other printing businesses, including The Stationery Office and FTS, which prints passports. "I like staying in businesses that I know," Mr Green said.

He would have been reminded of another business he knows well last night, when he attended the leaving party for Charles Allen, the former chief executive of ITV and the man who survived the shareholder revolt that ended Mr Green's television career.

PROMOTED VIDEO
Arts and Entertainment
tv
Sport
Ojo Onaolapo celebrates winning the bronze medal
commonwealth games
Arts and Entertainment
Rock band Led Zeppelin in the early 1970s
musicLed Zeppelin to release alternative Stairway To Heaven after 43 years
Arts and Entertainment
Tracey Emin's 'My Bed' is returning to the Tate more than 15 years after it first caused shockwaves at the gallery
artTracey Emin's bed returns to the Tate after record sale
Environment
Neil Young performing at Hyde Park, London, earlier this month
environment
News
i100
News
ebookA unique anthology of reporting and analysis of a crucial period of history
News
Prince Harry is clearing enjoying the Commonwealth Games judging by this photo
people(a real one this time)
Sport
Lionel Messi looks on at the end of the final
football
Extras
indybest
News
Richard Norris in GQ
mediaGQ features photo shoot with man who underwent full face transplant
News
Gardai wait for the naked man, who had gone for a skinny dip in Belfast Lough
newsTwo skinny dippers threatened with inclusion on sex offenders’ register as naturists criminalised
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Project Manager (HR)- Bristol - Upto £400 p/day

£350 - £400 per annum + competitive: Orgtel: Project Manager (specializing in ...

Graduate / Trainee Recruitment Consultant - IT

£25000 per annum + OTE £40,000: SThree: Orgtel are seeking Graduate Trainee Re...

HR Business Partner - Banking Finance - Brentwood - £45K

£45000 per annum + Benefits: Ashdown Group: ** HR Business Partner - Senior H...

PA / Team Secretary - Wimbledon

£28000 - £32000 per annum + Benefits: Ashdown Group: PA / Team Secretary - Mat...

Day In a Page

The children were playing in the street with toy guns. The air strikes were tragically real

The air strikes were tragically real

The children were playing in the street with toy guns
Boozy, ignorant, intolerant, but very polite – The British, as others see us

Britain as others see us

Boozy, ignorant, intolerant, but very polite
Countries that don’t survey their tigers risk losing them altogether

Countries that don’t survey their tigers risk losing them

Jonathon Porritt sounds the alarm
How did our legends really begin?

How did our legends really begin?

Applying the theory of evolution to the world's many mythologies
Watch out: Lambrusco is back on the menu

Lambrusco is back on the menu

Naff Seventies corner-shop staple is this year's Aperol Spritz
A new Russian revolution: Cracks start to appear in Putin’s Kremlin power bloc

A new Russian revolution

Cracks start to appear in Putin’s Kremlin power bloc
Eugene de Kock: Apartheid’s sadistic killer that his country cannot forgive

Apartheid’s sadistic killer that his country cannot forgive

The debate rages in South Africa over whether Eugene de Kock should ever be released from jail
Standing my ground: If sitting is bad for your health, what happens when you stay on your feet for a whole month?

Standing my ground

If sitting is bad for your health, what happens when you stay on your feet for a whole month?
Commonwealth Games 2014: Dai Greene prays for chance to rebuild after injury agony

Greene prays for chance to rebuild after injury agony

Welsh hurdler was World, European and Commonwealth champion, but then the injuries crept in
Israel-Gaza conflict: Secret report helps Israelis to hide facts

Patrick Cockburn: Secret report helps Israel to hide facts

The slickness of Israel's spokesmen is rooted in directions set down by pollster Frank Luntz
The man who dared to go on holiday

The man who dared to go on holiday

New York's mayor has taken a vacation - in a nation that has still to enforce paid leave, it caused quite a stir, reports Rupert Cornwell
Best comedians: How the professionals go about their funny business, from Sarah Millican to Marcus Brigstocke

Best comedians: How the professionals go about their funny business

For all those wanting to know how stand-ups keep standing, here are some of the best moments
The Guest List 2014: Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks

The Guest List 2014

Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks
Jokes on Hollywood: 'With comedy film audiences shrinking, it’s time to move on'

Jokes on Hollywood

With comedy film audiences shrinking, it’s time to move on