Radio group GWR denies merger talks

GWR, the owner of Classic FM, turned the volume down on reports of a £1bn merger with Capital Radio. GWR, in which Daily Mail and This Is Money owner DMGT has 26%, said 'it is not in any merger or acquisition discussions with Capital or any other party'.

Speculation of radio deals has intensified since publication of the communications bill. It will not become law until next year, but is expected to lead to a round of consolidation. But a GWR source said though mergers were likely 'speculation at this stage is a mug's game'.

Unilever signed what it believes is the largest advertising deal with ITV. It will pay £320m over four years to promote brands including Birds Eye and Persil - a major boost to broadcasters Carlton and Granada.