Exhibition giant Relx boosts profit but coronavirus risk looms February 13, 2020 Relx today posted a rise in revenue and profit for the full year, but warned it could not predict how the coronavirus outbreak would impact its business in China. The FTSE 15 publishing and exhibitions giant reported revenue of £7.9bn in the year to the end of December, up four per cent on an underlying [...]
Soundcloud bags $75m funding from Pandora owner Sirius XM February 11, 2020 Veteran music streaming site Soundcloud today announced it has received a $75m (£58m) cash injection from Sirius XM, the owner of US streaming giant Pandora. Soundcloud said it will use the funding to speed up its product development and enhance services for its users. The investment follows an ad sales partnership between Soundcloud and Pandora, [...]
Top BBC boss apologises over £12,000 banking conference fee February 11, 2020 The BBC’s editorial director Kamal Ahmed has apologised to staff for accepting £12,000 to speak at a banking conference last week. Ahmed, who was previously the broadcaster’s economics editor, accepted the fee for a 40-minute appearance at Aberdeen Standard Investments’ Investing for the Future event. In an email to staff, shared with the Financial Times, [...]
Kantar appoints former ITV boss Adam Crozier as chairman February 11, 2020 Kantar today announced it has appointed former ITV chief executive Adam Crozier to chair the market research firm after it was spun out of WPP last year. Crozier, who currently chairs Asos, Whitbread and cinema chain Vue, has previously held the top jobs at Saatchi & Saatchi, the Football association and Royal Mail. The appointment [...]
Former Sun editor Kelvin Mackenzie calls for radio licence overhaul February 10, 2020 Former Sun editor Kelvin Mackenzie has urged the government to auction the UK’s analogue radio licences to the highest bidder, arguing that market forces should dictate their value. The government has launched a consultation into the renewal of commercial FM and AM licences for national stations Classic FM, Talksport and Absolute Radio, which are set [...]
Competition watchdog tells Viagogo and Stubhub to pause merger February 10, 2020 The UK’s competition watchdog has told ticket resale websites Viagogo and Ebay’s Stubhub to pause any integration of the two businesses while it probes their $4.1bn (£3.2bn) merger. In an enforcement order published today, the Competition and Markets Authority (CMA) banned the two firms from taking any action which might “lead to the integration of [...]
BBC calls for ‘demonstrable resilience’ as it launches search for new boss February 10, 2020 The BBC has fired the starting pistol on its search for a new director general, calling for applicants with “demonstrable resilience” as it tries to head off fierce political pressure. The broadcaster today published a job advert for its top position after current director general Tony Hall announced plans to step down in the summer. [...]
Audioboom shares surge as it confirms possible sale February 10, 2020 Podcasting platform Audioboom has confirmed recent speculation it is looking to sell the company, sending shares soaring today. The company’s board released a statement this morning to confirm New York-based Raine Advisors was advising the company to help them “deliver maximum value for its shareholders”. It added: “Raine will provide advice and assistance to the [...]
Joe Media loss deepens as parent company starts layoffs February 9, 2020 Digital publisher Joe Media has posted a widening loss in its latest full-year accounts, weeks after its parent company announced job cuts in a bid to turn around its ailing finances. The news site, which also runs the popular House of Rugby podcast, reported a loss of £1.7m in 2018, compared to a £1.6m loss [...]
Premier League plots launch of Netflix-style streaming service February 9, 2020 The Premier League is plotting the launch of a Netflix-style streaming platform in a bid to boost revenue from TV rights in overseas markets. Richard Masters, the Premier League’s new chief executive, has confirmed that plans to set up a direct to consumer offering are already underway. The service, which would allow viewers in some [...]