SMG had hoped to fetch up to £20m for the business, which holds a 25% share of advertising contracts in the UK.
But despite being tipped as an early runner, ITV, which owns larger rival Carlton Screen Advertising, is believed to have abandoned its interest.
It is understood ITV was worried a purchase would be blocked by the competition authorities because it would effectively hand the broadcaster a monopoly in the cinema advertising business.
A string of advertising agencies have expressed disquiet about ITV getting its hand on Carlton’s only competitor.
However, it is likely that the strongest opposition would have come from cinema operators, such as Pearl & Dean’s biggest contract partner, Vue. It is thought that a number of parties have expressed an interest in Pearl & Dean, which retains a strong brand name despite its small share in the market and has recently been widening its business to become more consumer facing.
SMG is now looking to attract firm offers for Pearl & Dean, which was put up for sale last September. Possible buyers include the likes of Clear Channel, JCDecaux, Titan Outdoor, CBS Outdoor (formerly Viacom Outdoor) and Channel 4.
The company is also in the process of selling its outdoor contractor, Primesight, and negotiating a possible merger with UTV.
But despite being tipped as an early runner, ITV, which owns larger rival Carlton Screen Advertising, is believed to have abandoned its interest.
It is understood ITV was worried a purchase would be blocked by the competition authorities because it would effectively hand the broadcaster a monopoly in the cinema advertising business.
A string of advertising agencies have expressed disquiet about ITV getting its hand on Carlton’s only competitor.
However, it is likely that the strongest opposition would have come from cinema operators, such as Pearl & Dean’s biggest contract partner, Vue. It is thought that a number of parties have expressed an interest in Pearl & Dean, which retains a strong brand name despite its small share in the market and has recently been widening its business to become more consumer facing.
SMG is now looking to attract firm offers for Pearl & Dean, which was put up for sale last September. Possible buyers include the likes of Clear Channel, JCDecaux, Titan Outdoor, CBS Outdoor (formerly Viacom Outdoor) and Channel 4.
The company is also in the process of selling its outdoor contractor, Primesight, and negotiating a possible merger with UTV.
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