TNS rebuffs WPP despite GfK walk out August 28, 2008 Market research company Taylor Nelson Sofre said it would continue to fight WPP’s hostile bid even after its preferred bidder GfK walked away from a takeover deal yesterday because it could not raise enough cash. German GfK had been trying to raise financing with private equity groups and wealth investors to launch a rival takeover [...]
Profits boost for Talksport owner August 27, 2008 UTV Media, the owner of Talksport radio station and the Northern Ireland ITV franchise, saw its half year profits rise by 12 per cent to £10.4m despite a downturn in its hitherto core television business. The company, which recently raised £50m from shareholders, attributed its profits growth to revenue improvements from its radio business – [...]
Interactive Prospect dives after firm warns investors August 12, 2008 Online marketing group Interactive Prospect Targeting Holdings’ shares plunged by 27 per cent yesterday after it said its British operation was performing “significantly below management’s expectations”. The Aim-listed firm, which specialises in direct marketing via email, said that it was considering the sale of some of its divisions following its below par performance. It also [...]
Virgin loses punters but profits up August 8, 2008 Cable firm Virgin Media yesterday reported higher than expected underlying second-quarter profit, despite losing nearly 20,000 customers. Underlying profit rose by 6 per cent to £333m due to cost cutting measures, the Nasdaq-listed firm said, beating market expectations of £321m. But Virgin, which boasts Britain’s fastest broadband speeds, said it had lost around 19,500 customers, [...]
Setanta shows ITV the way to succeed in commercial TV August 8, 2008 By now there is little more to be said about ITV. The expected bloodbath duly arrived on cue this week and advertising revenue may not recover for 18 months. How different for ITV’s rival Setanta which is broadcasting the FA Cup and England internationals. The Irish pay TV sports broadcaster goes into the new football [...]
Profits surge at Murdoch’s News Corp August 7, 2008 Rupert Murdoch’s News Corp yesterday reported a 27 per cent increase in fourth-quarter profit, but warned investors that it faces tough times ahead. The media giant said that its film studios, national American newspapers and Fox News channel had done well, helping it to report profits of £1.13bn (£565m). Fox Interactive Media, the division in [...]
ITV revenues fall further as dividend cut August 7, 2008 ITV, the largest commercial broadcaster in the UK, has halved its interim dividend, lowered online and production growth targets and will strip out another £35m a year in costs after sinking £1.5bn into the red in the first six months of 2008. Shares in the company fell as much as 10 per cent following revelations [...]
Advertising slump dents Trinity sales August 1, 2008 Trinity Mirror revealed an 8 per cent fall in first-half sales to £460.8m, with heavy falls in advertising revenues continuing to take their toll The parent company of the Daily Mirror was further rocked by a 15 per cent slump in advertising sales during the month of July. Advertising comprises nearly 51 per cent of [...]
Cheer Up: Not all media companies are preforming badly August 1, 2008 Look: it’s time for all this generalised gloom about the state of the media to stop There is nothing anyone can do about the state of the economy or the severe downward pressure on advertising revenues. Not even Gordon Brown can do anything about that. But this week there has been more good news than [...]
Informa receives second full takeover approach July 30, 2008 Informa shares spiked after the publisher and events organiser revealed it had received an approach from another potential suitor. Informa said it is still in discussions with a Providence Equityled consortium, but it has also now provided information to the new bidder. It stressed the approach was preliminary only. Buyout firms Providence Equity, The Carlyle [...]