Independent News & Media has managed to bide more time to restructure its £170 million bond after agreeing an extension to its ‘standstill’ credit agreement.The extension to the deal, which was due to expire tomorrow, was agreed after bondholders rejected the latest offer from the publishing group, according to reports.INM’s bondholders refused the company’s proposed… Continue reading Independent owner extends credit deal

Bauer Media is set to cut eight full-time staff members at Kerrang Radio and slash freelance presenters from the station’s 43-strong workforce.Bauer is expected to buy out staff contracts or simply not renew them when they end, according to reports.A Kerrang spokesperson said the company has to run a “commercially viable station” that allows it… Continue reading Bauer cuts eight jobs at Kerrang Radio

Microsoft Advertising, ComScore, Google, News Corporation and Orange have become new members of the IAB Europe board.ComScore’s managing director Mike Reid and News Corporation’s vice-president of government policy David Fares will join as corporate members of the trade association, according to reports.The number of corporate members on the board will also increase to eight with… Continue reading IAB Europe appoints new board members

Trinity Mirror is set to close eight weekly titles in the Midlands and turn the Birmingham Post into a weekly or biweekly paper.The group’s regional plans, which will see expenditure reduced by as much as £2.5 million, could also include turning evening title the Birmingham Mail into a morning paper.The National Union of Journalists claims… Continue reading Trinity Mirror to close eight Midlands titles

Traffic to Twitter, the online micro-blogging service, has increased 22-fold over the last 12 months, according to new data from Hitwise.Last month, twitter.com ranked as the 38th most visited site in the UK and the fifth most visited social network, compared to the 969th most visited website and the 84th most visited social network in… Continue reading Twitter traffic increases 22-fold in 12 months

JCDecaux has launched nine new London-targeted packages for advertisers and agencies wanting to reach commuters.The outdoor media owner has set up the new packages in a bid to capitalise on the number of people taking in media across the city, with JCDecaux claiming that outdoor consumption is 68% higher in London compared to the rest… Continue reading JCDecaux launches nine new ad packages

MySpace is to cut two thirds of its global workforce and close offices in at least four countries.The social network, which cut 30% of its US staff earlier this month, said its international restructuring plans will see its workforce outside of the US reduced from 450 to 150 staff.The News-Corporation-owned site confirmed plans to “refocus… Continue reading MySpace to slash two-thirds of its workforce

ITV1’s new Real Crime documentary series secured the highest ratings last night with more than 4.2 million peak viewers.Rachel Nickell – Case Closed, which revealed how it took 16 years to convict Robert Napper for the murder of Nickell, who was killed on Wimbledon Common in 1992, pulled in 4.1 million average viewers and a… Continue reading Overnights: Real Crime secures the top spot

Magic 105.4 is set to launch its biggest-ever marketing campaign to celebrate London as “the world’s greatest city” this summer.The user-generated ‘Magic Loves London’ campaign, which will feature on-air, outdoor, online, experimental and PR activity, will invite listeners to submit photographs of what they love most about life in their area of London.A five-week terrestrial… Continue reading Magic 105.4 launches ‘biggest-ever’ ad campaign

Sun editor Rebekah Wade is to become News International’s chief executive in September.The announcement was made to News International’s Wapping staff earlier today, though Wade’s replacement at the Sun is not expected to be confirmed until later in the summer.James Murdoch, who currently oversees the publishing group as chairman and chief executive of parent company… Continue reading Rebekah Wade promoted to chief executive of News International