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Friday, 1 April 2011

Sports Media Group Shares Suspended on AIM

Sports Media Group plc shares have been suspended on the AIM market "pending clarification of its financial position"  The company issued the following statement; "The Company has experienced an insufficient recovery in trading since the adverse weather in December 2010 (as announced on 25 February 2011) with consequential pressure on the Company's working capital position. This has led to uncertainty around ongoing support from its bankers.

The Group is the owner of newspapers the Sunday Sport and the Daily Sport and it provides digital content for online and mobile channels.

In the company's December 2009 accounts it made a loss of £29m on Turnover of £31m.  Shares last traded at 92p.

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