Yorkshire entrepreneur Anthony Gill has bought 16% of the share capital of Media Square in the last few days at an approximate cost of £415,000, adding to speculation that some sort of deal is in the offing even if Gill is simply a bystander hoping to enjoy an upsurge in share price as a result. Gill's main business interests are in printing, direct marketing and stationery. Media Square initially reported that Gill had acquired a 13% stake, but subsequently amended that figure.
Last year the Irish private equity company Prime Active Capital ("PAC") bought up 21.5% of Media Square's capital for over £6 million. That investment is now worth little more than £500,000. PAC claims to acquire "companies where value can be achieved through improving and reinvigorating management teams". Assuming its shares have been retained - and Media Square's records suggest they have - quite a lot more reinvigoration may be required before the £5.5 million loss is recovered.
Last week Media Square announced the impending departure of its finance director Graeme Burns (see Media Square parts with finance director)
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After a period of radical restructuring all Media Square has to show for it so far is a continuing decline
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