Telewest Communications, the UK’s second largest cable group, today reported narrowing net losses for the year to December but writedowns pushed the company deeper into debt to the tune of $5.3 billion. Underlying earnings increased by 19% to £379 million in 2002 while turnover rose by 2% to £1.35 billion. The company embarked on a… Continue reading Telewest Results Hit By Writedowns

Nearly one-fifth of Europeans aged 55 years and over now have access to the internet, according to new figures from Forrester Research. The 19% penetration equates to 15.5 million European seniors and represents a 50% growth in the last two and a half years, up from 9.9 million users in 2000. The increase comes mainly… Continue reading Almost 20% Of European Net Users Are Over 55

Advertising page volumes in the business information technology market fell by 16.8% year on year during February, according to CMP Media, the technology publishing subsidiary of United Business Media. In difficult economic conditions, CMP is performing credibly and its continuing technology publications recorded a 14.8% decrease against February 2002. In the first two months of… Continue reading CMP Outperforms Hi-Tech Publishing Market In February

The growing popularity of non-voice services, such as SMS and mobile entertainment, helped to drive a mini-recovery in European mobile revenues during 2002, according to a new study from technology researcher Analysys. The report, Western European Mobile Forecasts and Analysis 2003-2008 focuses on mobile usage in a number of key markets. After a difficult 2001… Continue reading Mobile Data Services Help Stem Operator Losses

German media corporation Bertelsmann yesterday announced a 63% increase in earnings for 2002 but profits slipped as a result of the costly acquisition of record label Zomba. According to its annual report, net income at Bertelsmann fell to €928 million from €1.24 billion in 2001. This came despite an rise in operating EBITA from €573… Continue reading Bertelsmann Sees Earnings Jump In 2002

Cable & Wireless, the troubled UK telecoms firm, appears to have averted a crisis after agreeing a deal with the Inland Revenue that will settle a £1.5 billion tax dispute. According to a statement, C&W will pay £380 million to the Revenue to cover outstanding corporation tax liabilities for the ten years to March 31… Continue reading C&W Settles Tax Dispute With Revenue

Capital Radio has said that it expects its radio revenues to decline by 3% in the three months to March 2003, following a 6% drop in the final quarter of last year (see Capital Radio Ad Revenue Falls 6% In Q4 2002). The group said in a trading statement this morning that the figures will… Continue reading Capital Sees Revenues Down 5% In First Half

Independent News & Media (INM) has this morning posted a positive set of financial results for 2002, with like for like pre-tax profits rising by 8% to €129.0 million. The group, which publishes the Independent in the UK, said that overall newspaper revenues were up 0.7% in constant currencies, but down 3.2% in real terms… Continue reading INM Profits Rise 8%, Confident Outlook For 2003

Independent News & Media (INM) is selling its UK regional newspaper assets to Newsquest for £60 million, the group announced along with its financial results this morning. INM, publisher of the Independent national paper in the UK, has reached an agreement with Newsquest’s US parent, Gannett, to sell the 29 paid-for and 16 free weekly… Continue reading Independent News Sells UK Regional Papers To Newsquest

Influential Labour peer, Lord Puttnam, is believed to have warned the Government that he intends to lead a rebellion of peers opposed to the liberalisation of the cross-media ownership regulations. It is understood that in a speech during the second reading of the Communications Bill in the House of Lords, Puttnam said the Bill contained… Continue reading Puttnam To Lead Media Ownership Rebellion