RDF Media jumps as deal with Cyrte nears

RDF Media added 42.25% to its share price after confirming offer discussions with Cyrte Investment were nearing completion.

RDF confirmed that it expects a recommended offer of 120p per share. The company's market capitalisation is currently £42.94m and the bid values the company at about £50m.

UBC Media gained 6.06%, despite reporting revenues down 15% to £6.42m. It has reduced its exposure to digital radio and implemented a cost-cutting scheme.

Shares in the company initially rose, after Organo Investments took its stake in the company to more than 11%, but fell back to close at 90p.

Finally, Virgin Media was down 16.67% on the week at $4.67. The company announced 2,200 job cuts by 2012 - 15% of staff - as part of £120m of cost reductions.
Howard Davies, partner, Deloitte Research
This column provides a weekly commentary on the key movements among 20 listed media companies chosen by Broadcast. Source: Datastream