The company changed its name to Scottish Media Group in 1996 when it acquired Caledonian Publishing, owners of Glasgow-based newspapers The Herald and Evening Times (both of which have since been sold).By September an agreement had been reached to acquire Guardian Media Group's 15% stake in GMTV for £20 million, but both Carlton and Granada objected to the deal.[15] Flextech owner Telewest sold its 16.9% stake in STV Group to an investment bank for £45 million as part of their plan to raise funds to help clear off debt.[16] Throughout 2003/2004 rumours appeared about the company being broken up, with its ITV interests being sold off in an attempt to wipe out its £380m debt and boost its balance sheet.In late 2003 Northern Ireland's UTV, in partnership with venture capital group 3i and Scottish Radio Holdings, sought to acquire SMG for £400 million, but they withdrew the offer as they felt the share price was too high.[17][18] In September 2004, ITV plc purchased STV Group's 25% stake in GMTV for £31 million,[19] after being given the go ahead from the Office of Fair Trading.[22][23][24] SMG said in a statement that the price GMT Communications Partners paid represented a "clear uplift" on offers previously received for Primesight.[33] In September 2006, STV Group (then SMG) officially rejected a merger offer from Northern Irish ITV franchise holder UTV.On 2 March 2006, it was announced that Scottish Television would revert to using its former brand name of "STV", which it previously used from the start of colour broadcasting in 1969 until 30 August 1985, and which the station was still informally known as in parts of Scotland.[43] On 11 January 2013, STV were awarded two local TV licences by Ofcom to operate digital terrestrial television channels in Glasgow and Edinburgh for up to 12 years.STV Group's Aberdeen studios moved to a new purpose-built site in the city's Tullos area in 2003, from their previous location (a converted tram shed), which they had occupied since Grampian launched in 1961.