The Official Report is a written record of public meetings of the Parliament and committees.
All Official Reports of meetings in the Debating Chamber of the Scottish Parliament.
All Official Reports of public meetings of committees.
Displaying 3401 contributions
Constitution, Europe, External Affairs and Culture Committee
Meeting date: 9 October 2025
Stephen Kerr
Right. This year, you are responding to a performance that, if I am not mistaken, suggests that your revenue in the first half has gone down by £400,000. Is that right?
Constitution, Europe, External Affairs and Culture Committee
Meeting date: 9 October 2025
Stephen Kerr
I must be honest with you and say that I am not sure I understand how those numbers go together, but perhaps you could give the committee more information by writing to us.
If your revenue is roughly on par, then, on the sums that we are talking about, it does not seem like a kick in the pants from where it was. However, you are describing a huge drop in profitability, which you say has led to a 50 per cent loss in your share price and a collapse in your shareholders’ confidence. What are your shareholders telling you about the performance of your executive team?
Constitution, Europe, External Affairs and Culture Committee
Meeting date: 9 October 2025
Stephen Kerr
I understand that their aspirations will be for their shareholdings to retain their value, if not for that value to increase. However, they have just seen their holdings depreciate by 50 per cent in a year. Surely, they are saying much more than that to your executive team. Are they expressing confidence in you?
Constitution, Europe, External Affairs and Culture Committee
Meeting date: 9 October 2025
Stephen Kerr
Where does the figure of £3 million come from? What is the basis for it?
Constitution, Europe, External Affairs and Culture Committee
Meeting date: 9 October 2025
Stephen Kerr
But nothing quite like what will happen with STV North. You are effectively surrendering that licence, are you not?
Constitution, Europe, External Affairs and Culture Committee
Meeting date: 9 October 2025
Stephen Kerr
Yes, in effect, STV is giving up the licence.
Constitution, Europe, External Affairs and Culture Committee
Meeting date: 9 October 2025
Stephen Kerr
You have met the leadership team in Glasgow.
Constitution, Europe, External Affairs and Culture Committee
Meeting date: 9 October 2025
Stephen Kerr
Right, okay.
Many other questions need to be asked, not least about the facts that you are spending money on a radio station, hiring expensive presenters and investing in infrastructure for the studio. You have just spent £500,000 on refurbishing your Aberdeen and Glasgow studios, but the Aberdeen one will now fall into disuse.
I think that you have lots of questions to answer, but time does not permit me to put them just now. I will pass back to the convener.
Constitution, Europe, External Affairs and Culture Committee
Meeting date: 9 October 2025
Stephen Kerr
What is your take on the appointment of the new chairman? He comes with a corporate reputation for spin-offs and disposals. What do you read into that? What is your take?
Constitution, Europe, External Affairs and Culture Committee
Meeting date: 9 October 2025
Stephen Kerr
Yes. Also, the nature of the market for content creation, production and broadcast is radically different from what it was even five years ago.