STV pushes ahead with changes as profits and dividend wiped out by ‘ongoing uncertainty’

STV Group’s chief executive has insisted that the broadcaster will continue to offer a “really strong news proposition” as it pushes ahead with a controversial cost-saving shake-up.

Unveiling full-year results for the Glasgow-based broadcaster, including a slide into the red and the ditching of its final dividend, Rufus Radcliffe said the group was on track with its cost savings for 2026, in a move that would put the business on a “sustainable cost footing moving forward”.

STV announced a £5 million cost-saving programme in March 2024, with those plans expanded last September through the identification of a further £3m in savings, predominantly from a reduction in headcount.

Blue Lights is in production with series four and is produced by STV Studios label, Two Cities Television.

The group landed in hot water over its plans to shake up its news output - cancelling a separate news service for the north of Scotland and cutting the amount of local news it shows.

After initially saying it proposed to accept STV’s shake-up, communications regulator Ofcom recently said its final decision would now be made after May’s Holyrood election - not before Easter, as had been planned.

Speaking to The Scotsman, Radcliffe said: “The Ofcom process needs to play out and we respect that process, but there is lots that we can be getting on with.

“While we wait for Ofcom’s final verdict we can begin the plans to bring presentation and production into Glasgow. Part of the news plan is also to accelerate digital news - that is where audiences are going to find their news.

Rufus Radcliffe is CEO of STV Group.

“What we will be doing moving forward is offering a really strong STV news proposition both for linear and digital. We will have journalists on the ground in Edinburgh, Glasgow, Dundee, Aberdeen and Inverness and the news proposition both on air and online will continue to be a compelling one.”

His comments came as the group reported a 6 per cent drop in full-year revenues, to £176.9m. It posted an adjusted operating profit of £11.6m for 2025, down 44 per cent on the year before.

However, at the bottom line, the group swung to a loss of £4m, from a profit of £13.1m in 2024. It will not be paying shareholders a dividend this year.

While the headline numbers were in line with those previously flagged, shares fell about 6 per cent in morning trade.

The group said its studios division had continued to win commissions and deliver projects in a “difficult” market, with 37 new commissions and recommissions in 2025, down from 51 the year before.

STV Player achieved its highest ever consumption with total viewing hours up 9 per cent to 75 million and registered daily active users up 10 per cent. Meanwhile, STV Radio successfully launched as planned in January of this year, attracting new audiences and advertisers to the group.

Radcliffe added: “Like all UK media owners and producers it’s been a tough trading environment with ongoing macro-economic uncertainty. That has put pressure on advertising and we’ve seen a softer commissioning market as well. But we have acted quickly and focused on the levers that we can control.”

STV’s plans to restructure its news service have been condemned by the Scottish government, the leaders of the main parties at Holyrood, trade unions and local politicians.

STV says cost-cuts will ‘protect profitability’ as new radio station gets ‘positive response’