ITV is set to slash a further 600 jobs, cut £65 million from its programme budget and sell Friends Reunited and SDN in a desperate attempt to recover finances following its 41% profit decline.The struggling broadcaster today reported an adjusted pre-tax profit fall of 41% in 2008 to £167 million and a 32% drop in… Continue reading ITV’s profits down by 41%

ITV remains confident in the long-term course set by its content-led strategy, but will it be able to survive in the short-term?ITV today announced total losses of £2.7 billion after a huge downward realignment of its asset valuation – the broadcaster reported a pre-tax profit fall of 41% in 2008 and a 20% decline in… Continue reading Can ITV survive in the short-term?

BSkyB has expressed interest in buying the recently re-branded UKTV portfolio, which is currently 50% owned and operated by rival Virgin Media.Speaking at a conference in Florida, Sky’s chief executive Jeremy Darroch said that content companies are in Sky’s sights, according to reports.“We will look at acquisitions if we think they can advance our strategy,… Continue reading Sky expresses interest in UKTV acquisition

Ofcom today announced plans to back the development of ultra high-speed internet access across Britain in a bid to open up competition and clear the way for future investment.The media regulator has unveiled a series of new measures to develop broadband that runs at speeds in excess of 40 megabits per second, which is more… Continue reading Ofcom encourages expansion of ultra high-speed broadband

Ofcom has today published a consultation on a local commercial radio format change request, received from Liverpool’s 24-hour speech radio station City Talk 105.9.Bauer Radio, City Talk’s owner, has proposed all-speech content at peak times, which would include weekend breakfast, weekend late breakfast and drivetime, but wants to add a mix of music and speech… Continue reading Ofcom considers City Talk’s format change

ITV and Setanta are set to renegotiate the payment terms of their £425 million rights deals with the Football Association.Setanta is thought to of delayed making a payment of £10 million on its £150 million contract, while ITV has met its payments so far, but is attempting to reassess the schedule so that is has… Continue reading ITV and Setanta renegotiate football rights deal

Bauer Media has appointed Dasha Zhukova as editor-in-chief of POP magazine, which has recently moved to new offices in London and Berlin.Zhukova, the co-founder of fashion label Kova & T and Roman Abramovich’s girlfriend, is set to work alongside editorial director Ashley Heath, who co-launched POP in 2000.She replaces Katie Grand, the founding editor of… Continue reading Bauer appoints Zhukova as new editor of POP

The National Magazine Company is set to cut its UK workforce by 15%, around 100 jobs, in a bit to reduce costs as the economic downturn continues.The magazine publisher, which is home to 20 titles including Good Housekeeping and Esquire, said the redundancies will affect all areas of its UK business, including both editorial and… Continue reading NatMags to slash 15% of UK workforce

Project Canvas, the joint venture to bring catch-up from the PC to the TV by BBC, ITV and BT, is set to cost £24 million to get up and running.BBC, ITV and BT hope to provide an open technology service so that viewers with Freesat or Freeview and a broadband connection can access catch-up and… Continue reading Project Canvas startup to cost £24m

ITV1’s Billy Connolly series Journey to the Edge of the World just pipped BBC One’s Crimewatch to the highest ratings during the all-important 9pm to 10pm peak slot.The second episode of the comedian’s journey through the remote regions of Canada pulled in 4.3 million average viewers and a 18.3% share, however, Crimewatch managed to the… Continue reading ITV1’s Billy Connolly picks up the peak-time ratings