Report commissioned by Channel 4 argues privatising broadcaster would be “overwhelmingly negative” May 4, 2016 Privatising Channel 4 would be “overwhelmingly negative” and could attract a maximum £500m, according to a new report commissioned by the broadcaster. The government is currently considering whether to sell off the channel, which is publicly owned but privately funded. Culture secretary John Whittingdale recently talked up the prospect of selling Channel 4, saying it [...]
New York Times share price falls after reporting print and online advertising struggles May 3, 2016 US newspaper the New York Times performed ahead of analysts' expectations despite advertising revenues falling both in print and online. But the company's share price fell by nearly four per cent on Tuesday morning in New York to $12.37. The figures The New York Times Group reported adjusted earnings per share (EPS) of $0.10 in the [...]
Channel 4 and ITV news producer ITN takes stride towards 2020 revenue vision May 3, 2016 News producer ITN today reported a seven per cent revenue leap as it seeks to generate £180m by 2020. The figures The maker of ITV News, Channel 4 News and 5 News today reported a 2015 turnover of £119.7m, up from £112m. Read more: ITN has big plans for revenue growth and US expansion Of the total [...]
These journalists have been harassed, threatened, locked up and tortured for doing their jobs May 3, 2016 Jailed Azerbaijani reporter Khadija Ismailyova will today be awarded the Unesco/ Guillermo Cano World Press Freedom Prize. On World Press Freedom Day, Amnesty International is shining a light on nine cases of journalists from across the world being harassed, threatened, locked up and tortured as part of efforts to muzzle free expression. Anna Neistat, Amnesty International’s [...]
USA Today publisher slams rival for “lack of engagement” with “unsolicited” takeover offer and asks shareholders to show support May 2, 2016 US newspaper publisher Gannett has turned the heat up on Tribune, a rival company it wants to acquire. Gannett, which publishes USA Today and a number of local newspapers in the UK through Newsquest, last week made an $815m (£556m) offer for the Los Angeles Times and Baltimore Sun owner. Read more: From porn to property: [...]
Time Out magazine plots flotation to value company at £200m April 30, 2016 Magazine publisher Time Out is planning a flotation on the London Stock Exchange. The listing, planned for June on the alternative investment market, would value the company at more than £200m. Oakley Capital, Time Out's controlling shareholder since 2011, has confirmed “it has commenced a process of review of the investment in Time Out”. Read more: Saudi [...]
Richard Desmond is moving from porn to property as Northern and Shell plans to build homes and a school April 29, 2016 Struggling to find a good school for your children in East London? Richard Desmond to the rescue. Shortly after selling off its pornographic network, Portland TV, Desmond's Northern and Shell has announced plans to move into property development. And as well as building 722 homes, the publisher of the Daily Express and Daily Star is also [...]
Sir Martin Sorrell’s £70m: The defence (and not just from Sorrell and WPP) April 29, 2016 Advertising giant WPP today confirmed Sir Martin Sorrell's pay package totalled £70m last year in its annual report. The figure included a £62.8m long-term bonus. In recent weeks, Sorrell has been forced to defend his pay. And, perhaps unsurprisingly, WPP's annual report also defended its chief executive and founder: “While the value of Sir Martin Sorrell’s award is very [...]
Former Financial Times owner Pearson reports sales fall in first quarter as it seeks 4,000 job cuts April 29, 2016 Education company Pearson's share price was down slightly this morning after it reported a four per cent fall in sales in the first quarter of 2016. The figures Pearson, which sold the Financial Times and Economist last year, reported its revenue had fallen nine per cent year on year during the period. The company said [...]
Comcast’s NBCUniversal agrees $3.8bn deal for Shrek maker Dreamworks April 28, 2016 NBCUniversal, a division of Comcast, has announced a $3.8bn (£2.6bn) deal to acquire Dreamworks Animation. Shareholders of Dreamworks Animation, the maker of Shrek and Kung Fu Panda, will receive $41 in cash for each share under the deal. On Thursday morning in the US, after the announcement, the share price of Dreamworks was up 24 per cent to [...]