Informa launches share issue and suspends dividend in coronavirus crisis move April 16, 2020 Exhibition and media group Informa today launched a share issue worth 20 per cent of its existing capital and suspended its dividend as it looked to bolster its balance sheet during the coronavirus crisis. The company, which is also applying for the Bank of England’s covid corporate finance facility, said the placing of up to [...]
Guardian, Financial Times and Telegraph furlough staff as coronavirus hits newspaper revenue April 15, 2020 The Guardian, Financial Times (FT) and Telegraph today said they will furlough dozens of employees as the coronavirus outbreak decimates advertising revenue for news organisations. Guardian Media Group (GMG), which runs the Guardian and Observer, said it expects revenue for the first six months of the financial year to fall by £20m due to a [...]
Hope opera: Andrea Bocelli’s Milan concert breaks streaming record April 15, 2020 Andrea Bocelli has smashed multiple records after his live-streamed solo performance from the deserted Duomo in Milan racked up millions of viewers worldwide. The Italian tenor’s Music for Hope concert reached a peak of more than 2.8m live Youtube viewers on Easter Sunday, while the video received more than 28m views worldwide in the first [...]
Tiktok owner Bytedance to hire 10,000 new staff amid lockdown boom April 15, 2020 The Chinese company behind hit social media platform Tiktok is looking to hire 10,000 new employees as it defies a wider downturn that has forced global tech firms to lay off staff. Bytedance has opened applications for the vacancies, with roughly a third of the roles in high-level research or software coding, according to an [...]
Ofcom probes This Morning over Eamonn Holmes’ coronavirus 5G conspiracy comments April 14, 2020 Media watchdog Ofcom is assessing This Morning after presenter Eamonn Holmes questioned why the mainstream media had slapped down a conspiracy theory linking the spread of the coronavirus to 5G masts. On Monday Holmes, a host on the ITV show, said that the media did not know if the conspiracy theory was true or not. [...]
Jewish Chronicle and Jewish News collapse into liquidation April 8, 2020 The Jewish Chronicle and The Jewish News are set to collapse into liquidation after their parent company reportedly ran out of money due to the coronavirus outbreak. The weekly London papers said they had taken the decision to seek creditors voluntary liquidation, which is expected to be finalised in the next two to three weeks. [...]
Channel 4 to furlough staff in £245m coronavirus cost-cutting plan April 8, 2020 Channel 4 today said it will furlough 10 per cent of staff and implement pay cuts for executives as part of a plan to save £245m during the coronavirus crisis. The broadcaster warned the TV ad market was expected to plummet 50 per cent in April and May as brands pull their campaigns during the [...]
Audioboom shares jump as its ramps up podcast production April 7, 2020 Shares in Audioboom rose almost 17 per cent this morning after the podcast company posted a sharp rise in revenue for the first quarter. The Aim-listed company, which hosts and distributes podcasts, reported revenue of $6.4m (£5.2m) in the first three months of 2020, up 40 per cent on the same period last year. The [...]
Roku launches ad-funded UK streaming channel with classic British shows April 7, 2020 Roku has today launched a new UK channel as the ad-funded streaming service ramps up its TV offering for British consumers. The Roku Channel will offer users free access to more than 10,000 films, TV episodes and documentaries. It will feature British favourites such as Homes under the Hammer, Kitchen Nightmares and Skins, as well [...]
TV sector faces ‘bleak future’ without government intervention April 6, 2020 The UK’s commercial TV sector faces “permanent change” as a result of coronavirus unless the government steps in to help, top media analysts have warned. In a note to clients published today, Enders Analysis warned a combination of declining advertising revenue and a shutdown in filming had left broadcasters and the production sector facing a [...]