SVM's Colin McLean takes shine to UK media shares

SVM Asset Management's Colin McLean is increasingly positive about the UK media sector.

The managing director at SVM is buying shares in ITV and advertising company WPP on the back of a rosier outlook for advertising. "Some of the metrics for these companies are seeing business activity picking up," McLean says. He adds: "ITV's [incoming] chief executive Adam Crozier has not started yet, but some of the things that may come out of the election in regard to the BBC and BT Group may hold his rivals back a bit." ITV's chairman Archie Norman said yesterday ITV was seeking talks with the UK broadcast regulator about the dominant position of the BBC. The SVM UK Active F...