Netflix loses its chill: Four ways the streaming giant can recover July 18, 2019 Netflix shares dropped roughly 11 per cent when Wall Street opened today, as bleary-eyed investors reacted to a disappointing set of second-quarter results. The streaming firm posted a 26 per cent rise in revenue to $4.9bn (£3.9bn), but added just 2.7m worldwide subscribers, well below its 5m forecast. Read more: Netflix to open huge UK [...]
Shares in Reach spike after it confirms JPI Media takeover talks July 18, 2019 Shares in media group Reach jumped as much as nine per cent this morning after it confirmed it is in early talks to buy assets from i newspaper owner JPI Media. The Daily Mirror publisher today said it is in discussions with JPI Media, which owns hundreds of regional titles across the UK, but warned [...]
Audioboom posts revenue surge as it doubles down on original podcasts July 18, 2019 Audioboom has posted a huge rise in revenue in the first six months of the year as it continues to cash in on advertising in the lucrative podcast market. The Aim-listed company reported first-half revenue of $9.8m (£7.9m), a huge increase on the $3.6m posted in the same period last year. Read more: Audioboom posts [...]
Daily Mirror owner Reach ‘joins race to buy JPI Media’ July 17, 2019 Reach, the owner of the Daily Mirror and Daily Express, is said to have thrown its hat into the ring to buy JPI Media, which owns the i newspaper. The firm, formerly known as Trinity Mirror, has reportedly sent an indicative offer for the company which owns hundreds of regional titles. The news was first [...]
Private in the public eye? How a royal fairytale can turn into a nightmare July 17, 2019 A lot of seasoned royal watchers predicted that Miss Markle would give the Royal Family a new edge, a modern, feminist twist and a dose of Hollywood fame into the bargain. It isn’t quite working out that way.
Euromoney share price drops on ‘challenging’ quarter July 17, 2019 Shares in media group Euromoney fell more than three per cent this morning after it warned of challenges in its asset management division. Read more: Daily Mail shares jump following Euromoney shareholder giveaway The business and finance publication posted revenue of £112m for the three months to the end of June, up marginally on £108m [...]
Warner Music buys record label behind Les Miserables and Mary Poppins July 15, 2019 Warner Music Group has acquired First Night Records, an independent label specialising in recordings of West End and Broadway hits including Les Miserables and Mary Poppins. Warner, whose roster of artists includes Ed Sheeran and Cardi B, has snapped up the London-based firm for an undisclosed sum as it looks to build its presence in [...]
Music streaming firm Roxi plans London float as it looks to take on Spotify July 15, 2019 British music streaming firm Roxi Music has appointed advisers for an initial public offering (IPO) on the London Stock Exchange later this year. Roxi, which boasts a string of celebrity backers including Alesha Dixon, Sheryl Crow and Robbie Williams, said it will float on the Aim market in the fourth quarter 2019. Read more: Music [...]
May’s team in row over press freedom after Cabinet leak threat July 14, 2019 Prime Minister Theresa May and her top officials have been dragged into a bitter row over the freedom of the press after the Metropolitan Police warned journalists could be prosecuted for publishing diplomatic leaks. The Cabinet Office last week called in Met Police assistant commissioner Neil Basu, who issued a warning to the media that [...]
WPP sells 60 per cent stake in Kantar to value it at $4bn July 12, 2019 Advertising giant WPP is set to sell 60 per cent of its stake in analytics division Kantar to a private equity house as it raises cash for a turnaround strategy. Read more: WPP loses big name clients, sending sales on a steep decline Bain Capital has agreed to snap up the stake in a deal [...]