Independent furloughs staff and cuts pay as Covid-19 hits ad revenue April 23, 2020 The Independent today said it will furlough some of its staff and cut pay for others as the Covid-19 crisis decimates advertising revenues for news organisations. The digital-only newspaper said all employees earning more than £37,500 would have their pay slashed 20 per cent, while some would be placed on paid leave under the government’s [...]
Green light for £250m Netflix and Amazon film studio complex in Kent April 23, 2020 Developers have been given the green light to build a £250m film complex in Kent to provide much-needed studio space for streaming giants such as Netflix (NFLX) and Amazon (AMZN). Local councillors last night approved plans for Ashford International Film Studios, which will boast 240,000 square feet of production space. Derelict railway works The complex, [...]
Hipgnosis takes majority stake in Mark Ronson’s publishing catalogue April 23, 2020 Music royalties investment firm Hipgnosis today said it has acquired the majority of the publishing catalogue of prolific songwriter and producer Mark Ronson. Hipgnosis has taken control of 70 per cent of the 315-song portfolio, which includes more than 83 number one hits and two songs that have been streamed more than 1bn times on [...]
Robbie Gibb consortium wins last-minute bid for Jewish Chronicle after dramatic row April 23, 2020 A consortium led by former Downing Street spin doctor Robbie Gibb is set to take control of the Jewish Chronicle after its dramatic last-minute bid for the collapsed newspaper was accepted. The London weekly last week announced it was seeking a creditors’ voluntary liquidation alongside the Jewish News, with which it had agreed to merge. [...]
BeIN Sports urges Premier League to block Saudi bid for Newcastle April 22, 2020 Broadcasting giant BeIN Media has urged the Premier League to block a proposed £300m Saudi takeover of Newcastle United amid concerns about “industrial scale” piracy. Newcastle owner Mike Ashley is said to be on the brink of accepting a takeover offer from a consortium backed by Saudi Arabia’s sovereign wealth fund. However, the chief executive [...]
Snapchat shares jump as coronavirus lockdown boosts user numbers April 22, 2020 Snapchat has reported a sharp spike in user numbers during the first quarter as millions of people turned to the social media app during the coronavirus lockdown. Parent company Snap said daily active users rose 20 per cent year on year to 229m in the first three months of 2020. Revenue also grew 44 per [...]
Netflix subscribers surge as millions stream shows during coronavirus lockdowns April 21, 2020 Streaming giant Netflix signed up 15m new subscribers in the first quarter of the year, double the number it expected, as millions of viewers binged boxsets at home during global coronavirus lockdowns. The surge in subscription numbers was more than double the 7m net new subscribers that the company had forecast. The company also beat [...]
Ofcom sanctions London Live over David Icke coronavirus conspiracy interview April 20, 2020 Ofcom has sanctioned London Live after the TV channel aired an interview with conspiracy theorist David Icke that contained “potentially harmful” views about the coronavirus outbreak. The regulator received 48 complaints about the 80-minute programme, in which Icke made a raft of unsubstantiated claims, including that official health advice was designed to further the ambitions [...]
Future completes TI Media takeover as Covid-19 hits magazine sales April 20, 2020 Publishing group Future today said it had completed its takeover of rival TI Media but warned of job cuts as the coronavirus outbreak takes its toll on magazine sales. The competition watchdog last week cleared Future’s £140m offer for TI Media — which owns titles such as Country Life and Marie Claire UK — subject [...]
Read all about it: Newspapers feel the strain of Covid-19 April 18, 2020 Newspaper editors will have been no doubt heartened to see Oliver Dowden, the culture secretary, chivvying Brits to “buy a paper” this weekend. Dowden called newspapers the “fourth emergency service.” Like the others, they are under strain. For weeks on end British newspapers have reported on the coronavirus crisis, covering the spread of the pandemic, [...]