Tangent deal gives market Green recruits

THE next generation of the Green family - that's former Carlton boss Michael, not rag trader Philip - breezed on to the Stock Exchange today as the ex-television mogul's nephews listed their direct marketing company.

Michael Green, who lost out in the power struggle that handed control of ITV to his Granada nemesis Charles Allen, has engineered a reverse takeover by his Tangent Communications of quoted group Documedia Solutions.

The deal hands Green 50% of the newly-enlarged quoted company, valued at £10m and to be renamed Tangent. He is putting in nephews Nick and Tim to run it as joint chief executives.

The deal looks like history repeating itself. Michael Green and his brother David (father of Nick and Tim) started in the print business before building Carlton Communications into a media powerhouse.

Their current business specialises in personalised direct marketing such as junk mail from Sainsbury's wishing customers a happy birthday and making a special offer.

Nick Green, 32, started his career with Teletext and also worked in newspaper advertising sales. Tim, 29, previously worked at an internet consultancy and for search engine Ask Jeeves.

But today's deal is a damp squib compared with what had been expected from Uncle Michael, 57. He last year tried to use Tangent to buy the UCI cinemas group for £300m.