THE LIFE AND TIMES OF SMG

1996: Finance director Andrew Flanagan becomes managing director of Scottish Television and later chief executive when the company buys Caledonian Publishing, owner of The Herald and Evening Times newspapers, for 120m

1997: Scottish Television is renamed Scottish Media Group to reflect ownership of broadcast and print media; buys Grampian TV in June for 105m;

also buys a 14.9% stake in Ulster TV for 14m (later increased to 18.2%);

Gus Macdonald gives up executive responsibilities but remains Chairman

1998: Sells Ulster TV share to CanWest Global Communications for 23.9m; Gus Macdonald leaves to become Scotland's Minister for Business and Industry;

Scottish Media Group's electronic publishing subsidiary Voice merges with Delphic Media and Communications, renamed Delphic Interactive (owned 51-per cent by Scottish Media Group and 49-per cent by founders of Delphic)

1999: the Sunday Herald is launched in February; Don Cruickshank, formerly managing director of Virgin Group plc and chief executive of the NHS, appointed chairman; buys remaining 49-per cent share in Delphic Interactive for pounds-400,000;

acquires Pearl and Dean cinema advertisers for pounds-22.2m and Primesight outdoor advertisers for pounds-35m (in November sells airport advertising arm Primesight International to PSI Advertising for pounds-2m); buys 20-per cent stake in SPL football club Hearts for pounds-8m

2000: Scottish Media Group rebranded SMG;

buys Ginger Media Group, including Virgin Radio, from Chris Evans for 225m; buys 27.8% stake in Scottish Radio Holdings; GMTV share increased to 25-per cent

2003: SMG Publishing, including The Herald, Sunday Herald, Evening Times and a number of specialist magazine titles, sold to Gannett subsidiary Newsquest for pounds-216m

2004 SMGsells SRH stake to Emap for pounds-90.5m and GMTV stake to ITV for pounds-31m; Don Cruickshank steps down as chairman after his strategy to expand beyond Scotland brings major debts; he is replaced by Chris Masters

2005: SMG rejects Lord Alli and venture capital firm 3i's 100m bid for Virgin Radio

Copyright 2005 SMG Sunday Newspapers Ltd.
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