Merger and acquisition news drove several significant movements in the share prices of companies in the Broadcast 20.

Entertainment Rights rose 26% to 11p after The Times reported speculation that a bid was imminent. However, The Times added that the hedge fund Och Ziff was unlikely to be the purchaser, having not met the 20p price per share leading shareholders are said to be demanding.

Despite this recent boost, Entertainment Rights' market capitalisation has fallen almost 70% in the past 12 months.

SMG's market capitalisation has also fallen over the past 12 months, with its shares down almost 75. Its shares rose 1.7% this week, although the Financial Times reported that bidders for SMG-owned Virgin Radio were unlikely to offer more than£60m. SMG recently wrote down the value of Virgin Radio to£85m.

Paul Lee, director, Deloitte Research
This column provides a weekly commentary on the key movements among 20 listed media companies chosen by Broadcast. Source: Datastream