Tiktok ‘nears deal’ for sale of US operations after chief exec quits August 27, 2020 Short-form video app Tiktok is nearing a deal for its US operations, CNBC reported today, ahead of a potential ban in the country. The reports come just hours after chief executive Kevin Mayer quit his role at the firm, citing political pressure from the White House. According to the report, Mayer was initially going to [...]
Recruitment firm Hays fees drop amid dire jobs market August 27, 2020 Recruitment firm Hays reported a drop in its annual net fees as the jobs market readjusted to the coronavirus pandemic. The figures Hays reported that profit before tax plunged 49 per cent from £246.3m to £126.2m, while operating profit dropped 46 per cent to £135m. Group fees fell 11 per cent for the year as [...]
Gambling, alcohol and tobacco brands target children in age-restricted ads August 26, 2020 Children have been targeted by almost 160 gambling, alcohol and tobacco adverts which break advertising rules, according to the regulator. The Advertising Standards Authority (ASA) said it had found 159 adverts on 34 websites and five Youtube accounts aimed at children. Companies placing age-restricted ads online are required, under the Advertising Code, to target their [...]
Virtual live music business Melody VR buys Napster in $70m deal August 25, 2020 Virtual live music business Melody VR said today it has bought music streaming business Napster in a $70m (£53.8m) deal. Melody VR, which launched in 2018, uses virtual reality technology to allow music fans to experience gigs from artists such as Post Malone, Chainsmokers (pictured), Lewis Capaldi, Blake Shelton, Wiz Khalifa, Kelly Clarkson, Niall Horan, [...]
Tiktok sues Donald Trump over executive order banning video app August 24, 2020 Tiktok and parent company Bytedance have today sued US President Donald Trump over his decision to sign an executive order banning the short-form video app. In a blog post earlier today, the firm said that it had been left with “no choice” but to sue the president, adding that it strongly disagreed with the White [...]
Pearson appoints Disney veteran Andy Bird as new chief executive August 24, 2020 Publishing group Pearson has appointed former Disney bigwig Andy Bird as its new chief executive. The company said Bird will take over from current boss John Fallon on 19 October. Fallon will step down from the board but remain as an adviser until the end of the year. Veteran media industry boss Bird, whose career [...]
Relx snaps up UK analytics firm Scibite in £65m deal August 21, 2020 Relx today said it has acquired British data analytics firm Scibite as the publishing giant shifts its focus to digital services. The FTSE 100 company did not disclose financial terms, but a source told City A.M. the deal was worth roughly £65m. The deal forms part of Relx’s strategy to supplement organic growth with analytics [...]
Trust is at an all-time low, but we need journalism now more than ever August 21, 2020 Last month, a YovGov poll found that over 50 percent of adults in the UK now see the British media as a “force for bad”. This is an alarming statistic. It is the first time the monthly tracker has found that the majority of Brits hold this view, and the speed at which this trend [...]
Angry Birds maker Rovio gets lockdown profit boost August 14, 2020 The company behind the Angry Birds franchise has posted a huge rise in profit for the second quarter as players flocked to the hit video game during the coronavirus lockdown. The figures Rovio’s adjusted operating profit jumped 160 per cent to €13.8m (£12.5m) in the three months to the end of June. Revenue slipped 3.6 [...]
Social media news consumption drops as trust declines August 13, 2020 The number of people accessing news through social media has fallen in the last year as trust in online platforms has slipped, new figures have revealed. The proportion of Brits using social media sites to stay up to date with the latest stories slipped to 45 per cent in 2020, down from 49 per cent [...]