Thames traders
That shuffling noise outside the board- room door of Thames Television comes from the loyal staff. Do they dare ask the owners to move over? They should try lean- ing on the door. Crossfire from city takeover wars may now be just what Is needed to shoot the lock off. Thames has the enviable franchise for London's week- day commercial television, and a no less enviable record as an exporter of program- mes, which has won it the Queen's Award. It is owned in almost equal parts by Thorn EMI and by BET, the holding companY which owns (among much else) Wembley Stadium. A few years ago they were pressed by the Independent Broadcasting Authority to let in outside shareholders. That pressure was temporarily withdrawn when Thames had to do its expensive bit in the launching of Channel 4. But since then BET has seen another big and diverse holding company' Thomas Tilling, gobbled up. Anxious to avoid that fate, BET is now running hard, and has just sold its television rental com- pany for £120 million. Thorn EMI is runn- ing hard, too — hoping to beat GEC to British Aerospace. For both owners, now is the time to shore up the share price, and how better than to cash in on the glamour of Thames — by a flotation? Or a demo' ger? Or (as they faintly hope in Thamess glass palace) a management buyout? Will- ing buyers, willing regulators, willing sellers? Keep tuned.
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