Magazine giant's future looks far from glossy Takeover speculation is growing following chief executive Tom Moloney's exit from struggling media group Emap, says Guy Dixon

From: Scotland on Sunday | Date: May 20, 2007| Author: | Copyright information

IF TOM Moloney had any lingering doubts about what he was doing, the City's reaction to his sudden departure from media group Emap must have quickly laid them to rest.

Shares in the publisher of magazines including FHM and Grazia and radio stations such as Clyde and Magic FM leapt 8 per cent to an 11- month high of 905p last Thursday morning after the group announced that its chief executive was leaving by "mutual agreement".

In a flurry of activity, analysts increased their price targets and named Emap as a takeover target; rarely can the surprise resignation of a company boss have been ...

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