Share price plummets: Sorrell’s S4 Capital downgrades outlook as tech slowdown bruises ads market September 18, 2023 Shares in Sir Martin Sorrell’s S4 Capital plunged as much as 27 per cent at market open after it reported a mix bag of updates for the first half of 2023, with a strong technology division failing to make up for a slow ads market elsewhere in the business. The firm reported an operating loss [...]
BBC Studios relaunching international news site amid licence fee freeze September 17, 2023 The BBC is gearing up for an expansion in the US market as it seeks to bolster its revenues amid challenges at home. BBC Studios, the broadcaster’s main commercial arm, is preparing to relaunch its advertising-supported news website in North America, ahead of next year’s US presidential election. Following its debut there, the revamped website [...]
‘The Czech Sphinx’ sets sights on the Telegraph September 17, 2023 Czech billionaire Daniel Křetínský has thrown his hat into the ring in a high-profile auction for the UK’s Telegraph Media Group, set to begin very soon. Křetínský, known for his energy ventures and European dealmaking, has recently joined the auction by signing a non-disclosure agreement, according to the Financial Times. The parent company of The [...]
Media bosses under fire over Russell Brand allegations September 17, 2023 Pressure is mounting on TV industry execs as allegations of sexual misconduct by entertainer Russell Brand come to light.
Hipgnosis may swerve buyout avoiding recent fate of LA-based rival RHM September 11, 2023 Shares in Hipgnosis Songs Fund rose as much as 16.5 per cent on Friday after it emerged rival music royalty firm Round Hill Music (RHM) had received a cash offer for a multimillion dollar buyout. But analysts say this does not necessarily mean the same fate awaits Hipgnosis. After US company RHM failed to reverse [...]
TikTok: Lawyers hope new data centre can ease privacy fears September 8, 2023 Tiktok has opened a European data centre which lawyers say could quell international privacy fears currently plaguing the app. This week the Chinese video app opened a new data centre based in Dublin as part of an effort to calm European data privacy concerns around the app’s links to China. ‘Project Clover’, as it has [...]
Hipgnosis share price rockets after £376m Round Hill Music takeover September 8, 2023 Shares in Hipgnosis Songs Fund jumped as much as 16.5 per cent on Friday morning following the news that rival music royalty firm Round Hill Music (RHM) is set to be rescued by a multi million dollar buyout. Los Angeles based Alchemy Copyrights has offered to buy US company RHM for $469m (£376m), causing its [...]
Daily Mail said to be in cahoots with Qataris to splash over £500m on Telegraph group September 7, 2023 The Daily Mail is reportedly in talks with Qatari tycoons to table a bid for the Telegraph group, which could cost north of £500m. Daily Mail and General Trust (DMGT), owned by Lord Rothermere, is discussing additional equity to fund a bid for The Telegraph titles and The Spectator, which were put up for sale [...]
Brexit red tape ties up musicians touring EU and cuts into earnings September 7, 2023 Mountains of expensive Brexit-induced paperwork is costing eight in ten British musicians their hard-earned cash, a new report has found. Of 1,500 music artists and professionals touring Europe, one third reported post-Brexit paperwork is hurting their earnings, according to a new study by industry body UK Music, first shared with news site PoliticsHome. Eight in [...]
Spotify slams report of gangs using platform for money laundering as ‘work of fiction’ September 6, 2023 Spotify has hit back at an investigation by a Swedish newspaper that said the music streamer's platform was allegedly being used by gangs to launder their ill-gotten gains via fake streams.