Gustav hits the coast of New Orleans September 2, 2008 The dreaded Hurricane Gustav ripped through the US Gulf coast last night, thrashing New Orleans with strong winds and heavy rain as it arrived, but sparing it the full force devastation caused by Hurricane Katrina three years ago. The National Hurricane Centre downgraded winds to a category two shortly before it hit. The Louisiana coastline [...]
Bodies of millionaire and wife are found September 1, 2008 Police investigating a fire at the home of millionaire businessman Christopher Foster have announced they are now treating it as a murder inquiry, following confirmation that the two bodies found there are those of Foster, 50, and his wife. A post-mortem examination has revealed that Jillian Foster, 49, from Osbaston House in Maesbrook, Shropshire, died [...]
Running an old media company isn’t much fun right now August 29, 2008 The outlook for most of the media is as bleak as the August weather. Everywhere you look this week profits seem to be tumbling as cost cuts and job losses accelerate. Johnston Press chief executive Tim Bowdler could see little cause for hope for 18 months at the very least as he unveiled an advertising [...]
ITV faces exit from FTSE 100 August 29, 2008 Mobile phone retailer Carphone Warehouse and broadcaster ITV are in danger of being ousted from the blue chip FTSE 100 at its next quarterly review. The two will join pub chain Enterprise Inns and Ukrainian iron ore producer Ferrexpo, which have both fallen below 111th position in the FTSE ranking, based on their market capitalisation, [...]
O’Brien attacks INM August 28, 2008 Denis O’Brien, a major shareholder in Independent News & Media (INM), has called on the group to “urgently” review the operations of its flagship titles The Independent and Belfast Telegraph after first-half profits tumbled. While the group grew its underlying revenues by three per cent in the six months to 30 June, adjusted earnings per [...]
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 [...]