SMG plc (SMG) has received from the Independent Television Commission (ITC) the financial terms for the renewal of its television broadcasting licences for Scottish Television and Grampian Television for a further 10 years.
Scottish Television –
Cash Bid GBP1.7m
Percentage of Qualifying Revenue (PQR) 11%
Grampian Television –
Cash Bid GBP0.1m
Percentage of Qualifying Revenue (PQR) 6%
(NB: Cash bids will apply from 1 January, 2002; PQR will apply from 1 April, 2001)
SMG confirms that is minded to apply for renewal of its licences under the new terms, however these are currently being evaluated by the company and it is seeking clarification from the ITC on the basis on which the new terms have been determined.
Commenting on the announcement, Andrew Flanagan, SMG’s Chief Executive, said:
We are pleased that the uncertainty around licence renewal has now been removed and we can look forward to another 10 years of award winning broadcasting to viewers across Scotland.
