Clear Channel Communications, the leading radio station owner in the US, has reported an increase in second quarter profits despite a slight drop in radio advertising revenue. Revenues in the three months to the end of June climbed by 6.6% year on year to $2.32 billion. Quarterly earnings came to $251.3 million, up from $238.0… Continue reading Profits Grow At Clear Channel

Hollywood film studio, Metro Goldwyn Mayer (MGM), is understood to have withdrawn its $11.5 billion offer for the US entertainment assets of Vivendi Universal, after the French group asked for a higher price for the business. Vivendi is now thought to be asking for no less than $14 billion for the Vivendi Universal Entertainment (VUE)… Continue reading Vivendi Entertainment Price Is Too High For MGM

There is substantial evidence from the US of an increased demand by advertisers for media inventory, a trend which could lead to the return of media inflation, according to communications consultancy Media Audits. Strong demand in the network spot television markets in the States is leading commentators to predict cost inflation as high as double… Continue reading INSIGHTanalysis:UK TV Sees Media Deflation, US Set For Inflation

The huge success of the paid search advertising market will be a key component in the modest recovery of US internet advertising this year, according to Jupiter Research. The industry’s first independent paid search revenue projections are released by Jupiter today as part of its online advertising forecast, which shows a market developing new formats… Continue reading Paid Search Will Boost Modest US Online Ad Growth

Although consumer awareness of hot spots is now relatively high, the market for these services has not progressed beyond the business travel community, according to a white paper from Parks Associates. The research firm offers consumer perspectives on public Wi-Fi hot spots based on a recent survey which features in a new report, Public Hot… Continue reading Executive Travellers Drive Hot Spot Market

Capital Radio has restructured its senior management team and has put veteran programming executive, Keith Pringle, in charge of its flagship London station in a bid to increase listening. The restructure will see Pringle move from his current role as group programme director to the newly created position of managing director of 95.8 Capital FM.… Continue reading Capital Shakes Up Management To Win Back Listeners

The Department of Trade and Industry (DTI) is to investigate the financial activities of Syrian billionaire Nahed Ojjeh amid allegations that she breached the Companies Act by failing to disclose her share dealings in Cordiant Communications. Mme Ojjeh has already been publicly criticised by the Takeover Panel for her delay in disclosing share purchases as… Continue reading DTI To Investigate Ojjeh’s Cordiant Transactions

Global advertising network, Omnicom, today posted a second quarter increase in worldwide revenues of 12.2%, with the strongest growth coming from outside the US. The group said that US revenues rose by 6% to $1.2 billion, whilst international growth was 21% to $967.2 million. This presents a slightly different picture to most recent commentary, which… Continue reading Omnicom Sees Strong International Revenues In H1

Profits at United Business Media (UBM) made a surprise jump of 12% in the first half of the year as a result of a stabilisation in revenue trends and improvements in some markets in the US. The group said that revenues in the US have been broadly stable in the last four quarters and this… Continue reading UBM Profits Rise 12% In H1, Ahead Of Expectations

The UK had the largest cinema market in Europe in 2002, accounting for over 20% of the continent’s box office takings, according to a new study from analysts Dodona Research. The report, Cinemagoing Europe, found that 1.03 billion Europeans visited cinemas last year, an increase of 6.5 million on the 2001 total. UK admissions were… Continue reading European Cinema Admissions Top One Billion In 2002