Sorrell goes on war path over TNS bid July 10, 2008 German rival GfK says it will trump the £1.08bn offer from advertising giant WPP WPP yesterday launched a £1.08bn hostile bid for market research firm TNS, dismissing competing takeover plans from rival GfK as “flaky”. In a day of drama in the City, TNS and GfK withdrew their proposal for a friendly tie up after [...]
Bollywood Godfather takes on Hollywood July 8, 2008 Anusha Bradley talks to the boss of Eros, the media mogul bent on profiting from the silver screen It goes without saying: Kishore Lulla loves movies. “Indian or Hollywood, I love watching them all. Whether it’s Spiderman, Harry Potter, Shawshank Redemption, or The Godfather – I love the Godfather – they give me a lot [...]
EMI appoints cleaning exec to leading job July 8, 2008 Record company EMI Group has appointed an executive with no experience of the music business to head up its record division, as part of the firm’s strategy to fill key positions with talent from outside the industry. EMI yesterday announced that Elio Leoni-Sceti, vice-president of household goods firm Reckitt Benckiser, would become chief executive of [...]
Sky to miss crucial subscribers target July 7, 2008 Satellite broadcaster BSkyB looks set to miss its important internal target of subscribing 10m customers by 2010, as growth in the pay-TV sector begins to slow. In fiscal 2007, Sky signed 406,000 new customers to its satellite service, and needs to add a further 400,000 each year to meet its goal in 2010. It is [...]
Merrill eyes Bloomberg sale July 7, 2008 American investment bank Merrill Lynch is in negotiations to sell its 20 per cent stake in financial data and news firm Bloomberg, as it seeks to raise more cash to firm up its balance sheet. Talks with the firm’s founder and New York mayor Michael Bloomberg are still at an early stage, according to those [...]
New Orange supremo in drive back to basics July 4, 2008 For a man who has spent his entire career in the telecoms industry, it seems strange that Tom Alexander, Orange UK’s newly installed chief executive, should list his first passion as racing cars. As we travel across London in the back of his chauffer driven BMW 7-series, he tells me he never expected to make [...]
Trinity warns on crumbling UK ad market July 1, 2008 Trinity Mirror Group shares plunged as much as 30 per cent after it issued a stark profits warning due to double-digit declines in advertising revenues. “We have seen a marked year on year decline in advertising revenues across our businesses during May and June and this is expected to continue for the remainder of the [...]
Setanta’s £125m bet July 1, 2008 Setanta Sports has upped its multimillion-pound gamble to take on the dominant Sky Sports by paying a record £125m for the rights to the Scottish Premier League. The new four-year deal is the largest in Scottish football history and will go through to 2014. It is more than double the £54m Setanta paid for its [...]
US spending aids Pearson November 2, 2005 Pearson, the publishing group, enjoyed a strong third quarter as the American government ploughed funds into education. The group that publishes the Financial Times posted a 20 per cent increase in operating profit as sales moved ahead 10 per cent in the nine months to 30 September. Its key education division posted a 13 per [...]
Co-op will vote against BSkyB at AGM November 2, 2005 Pay TV broadcaster BSkyB suffered a fresh blow to its share buyback plans after shareholder Co-operative Insurance Society (CIS) announced it would vote against the proposal at what is expected to be a stormy AGM this Friday. The insurer, which joins a growing list of institutional investors who have threatened to scupper the plan, said [...]