NBC, the US broadcasting network owned by General Electric, has agreed to buy Hispanic broadcaster Telemundo for $2.7 billion (£1.9 billion) in stock and cash. The deal gives NBC a good foot-holding in the fast-growing Spanish language market.

Rupert Murdoch has said that his media company, News Corporation, will lose £69 million as a result of the terrorist attacks in the United States. Speaking at the company’s annual meeting in Adelaide, Australia, he told shareholders: “Advertising is going through a very uncertain time. We have been in a recessionary period for the last… Continue reading News Corp Loses £69m Following Attacks

In its weekly assessment of the pan-European media sector for investors, ABN Amro has said that whilst stocks have recovered slightly, this is a result only of a broader improvement in the global markets and that the outlook for the media and advertising sector itself remains more or less unchanged. The broker says that the… Continue reading ABN Amro Warns On Short Term Improvements In Ailing Media Sector

According to press reports this morning SMG has offered all of its employees voluntary redundancy as part of a cost-cutting exercise following a drop in profits for the first half of this year of over 30% (see SMG Profits Stung By Ad Slowdown). In order to avoid forced redundancies, SMG has given its employees until… Continue reading SMG Offers All Employees Voluntary Redundancy

After months of negotiation, global media group WPP has now announced that it is seeking the consent of the Takeover Panel to invoke the material adverse change condition in relation to its offer for Tempus Group (see WPP Poised To Make Counter Bid For Tempus) In a statement issued this morning, WPP said that it… Continue reading WPP Seeks Escape From Tempus Deal

The majority of advertisers do not feel that the UK is facing a recession and marketers are fairly upbeat about the outlook, according to the Advertiser Survey 2001 conducted by Media Audits. However, the survey was conducted several months before the attacks on the US on 11 September and was originally published the week before.… Continue reading Most Advertisers Remain Positive On Outlook, Shows Survey

Jack Myers, chief economist at Jack Myers Reports, has today set out his predictions of the impact of technological developemnts in the television industry, claiming that interactive TV (iTV) is extremely important to the future of media and advertising. In this morning’s report, Myers says that investment and education in iTV technologies and capabilities is… Continue reading Interactive TV Is Vital To Advertisers’ Future, Says Myers

Outdoor company Clear Channel Worldwide (CCW) is to merge with US media company, Ackerley Group, it was announced today. Ackerley Group holds outdoor, television, radio and interactive media assets. CCW is a global player in the outdoor advertising industry with radio and television stations, outdoor displays and entertainment venues in 64 countries around the world.… Continue reading Clear Channel Worldwide In $497m Merger With Ackerley Group

NTL has launched a high speed broadband internet service priced at the same level as the existing dial-up services available on the market. The company says that the 128 kbps service is now available to 4.7 million homes in the UK for £14.99 per month, via its NTL Home service. Douglas Alexander, minister for state… Continue reading NTL Shakes Up Broadband Net Market With New Service

Despite the unstable state of the US economy, eMarketer forecasts a healthy outlook for for online shopping in its new eCommerce: B2C Report. The report analyses forecasts from over 100 researchers and, from this, eMarketer estimates that US B2C ecommerce revenues will grow from $38.3 billion in 2000 to $156 billion by 2005. US B2C… Continue reading B2C eCommerce Forecasts From eMarketer Shows Continued Growth In Online Shopping