Dawn Airey left her job at ITV (ITV) yesterday to return to Five as chairman and chief executive, says the FT. The Companies & Markets section of the paper says Airey's move could revive speculation that Five's owner, RTL (RTL), may be preparing a bid for ITV, or at least the 17.9% stake British Sky Broadcasting (BSY) Holds.
In short interest terms, the data shows that the percentage of ITV's Market Cap out on Loan to short sellers has risen from 4% in January to 7% today (the spike here is dividend trading which does not account for short interest). Utilisation is at 16%, so there is still plenty left to borrow and there are 15 Days to Cover. The average Utilisation for the rest of the EMEA Media Sector is 23%, and for the rest of the FTSE 100 it is 7%. RTL, listed under BE Equity, has just 0.25% of its Market Cap out on Loan, even though it is 31% Utilised, meaning it is very difficult and expensive to borrow this stock.
BSkyB has 6.49% of its Market Cap out on Loan to short investors, with Utilisation at 24%. There are 21 Days to Cover. In the rest of the UK Media Sector, Trinity Mirror, Johnston Press and Yell Group are the most borrowed stocks.