Earnings at Rupert Murdoch’s News Corporation more than doubled in its first quarter with the media conglomerate’s movie unit reporting the largest growth. The company posted a net profit of $422 million in the three months to the end of September, up from $162 million in the same period last year (see Price War Drives… Continue reading Film Sales Lift News Corp Profits

Losses at Telewest fell by 25% in the third quarter of 2003 as the cable firm sought to build on its customer base and free itself from crippling debts. Telewest said today that turnover was up 1% to £339 million in the three months to September while operating losses were slashed by 73% to £17… Continue reading Telewest Losses Narrow In Third Quarter

Spending on entertainment and media in Europe’s largest economies will grow at a compound annual growth rate (CAGR) of 3.4% between now and 2007, according to a report published by PricewaterhouseCoopers (PwC). The global professional services firm calculates that total media and entertainment spending in six key countries (UK, France, Germany, Italy, Spain and the… Continue reading European E&M Industry To Remain Buoyant, Says Report

Men in the 18-34 age group view more web pages and spend more time online than the average internet user, according to a study by comScore Media Metrix. US media and advertising companies have begun to express concern at the apparent decline in television viewing among young males. One theory is that this key demographic… Continue reading Young Males Flocking To The Internet, Says Report

Gaming currently accounts for only a small proportion of European mobile entertainment revenues but it is a growing sector that will be worth â‚Ź3 billion by 2008, according to a report by Analysys. The emergence of Java handsets prompted the development of colour arcade games which have attracted considerable interest from consumers. The mobile industry… Continue reading Mobile Games Set For Big Future, Says Analysys

Concerns over the inexperience and intentions of new BSkyB chief executive James Murdoch are likely to prolong uncertainty at the company, according to city analysts. The appointment of Murdoch, youngest son of media baron Rupert, has irked shareholders concerned that the family may be exerting too great an influence at the satellite broadcaster (see Murdoch’s… Continue reading BSkyB Coronation Could Cause Disruption, Says Merrill Lynch

Clear Channel Communications saw turnover rise in the third quarter of 2003 but the flat performance of the radio division shows that this sector remains slow. Total revenues at the US media corporation rose by 9% to $2.54 billion with net profits coming in at $636.0 million, up from $212.5 million in 2002. The gain… Continue reading Clear Channel Waiting On Radio Recovery

Carlton and Granada have confirmed that the former head of Lloyds TSB Sir Brian Pitman is to become interim chairman of ITV plc (see Allen Deal Could Spark Fresh Shareholder Dispute). A steering committee of six non-executive directors, three from Carlton and three from Granada, met earlier today to discuss the future of the board,… Continue reading ITV Plc Unveils Steering Committee

NTL, the UK’s largest cable operator, has unveiled plans to raise $1.43 billion to enable the firm to regain its financial footing. Under the terms of the proposed rights issue, 35.8 million shares will be offered at $40 each, the objective being to reduce the company’s debt to around $5.3 billion. Current shareholders will receive… Continue reading NTL Outlines Details Of Rights Issue

Almost two-thirds of American internet users plan to research or purchase gifts online during the 2003 holiday season with those in high income households most likely to turn to the web for Christmas presents and ideas. The fourth quarter accounts for over half of full-year sales for some retailers and online traders will be encouraged… Continue reading Consumers Prepare For An Online Christmas