Been building up a small stake in this company recently.

Current market cap 3.5 million.

This is a business that was acquired for some 40 million from David Sullivan, David has returned to the business to turn it around and he seems to be doing exactly that.

Was only a few years ago this business was making some 5-10p eps, everything seems to be in place, long term debt facilities secured, business is profitable, big
question is how profitable, i think results may well surprise the market in April.

"The Board of Sport Media Group plc (AIM: SPMG.L), the integrated multi-media
group that publishes the Sunday and Daily Sport newspapers and provides digital
content for internet and mobile channels, today reports the following trading
update:
The last five months trading to 31st December continued to be encouraging.
Although daily circulation of the newspaper failed to hold the peak levels of
August, they remained above budget and the Group traded profitably for the
period.
The Board is confident that 2010 will see profitability recover further."

http://www.bbc.co.uk/news/magazine-12958143