ABN AMRO has cut its 2002 profit forecast for Capital Radio by 7% to £35.5m, following confirmation in its interim results yesterday of a fall in profits and a revision of its full year expectations (see City News). A major factor in the revenue falls has been what the broker calls a “sharp deterioration in… Continue reading ABN AMRO Reduces Forecast Following Capital Profit Warning

The ITC published its revised rules on airtime sale arrangements yesterday, revealing a more streamlined approach to the regulation of this sector. Deputy director of advertising and sponsorship at the ITC, Ian Blair, said today: “The rules will be kept under periodic review to ensure that they continue to reflect the rapid changes within the… Continue reading ITC Publishes Revised Airtime Sales Rules

Scottish Radio Holdings has this morning issued a cautious outlook for its performance for the coming year, as interim financial results show a 5% drop in profit before tax to £7.8 million. Turnover at the group increase by 18% to £40 million for the six months to 31 March, driven largely by acquisitions. This is… Continue reading SRH Cautious On Outlook As Ad Slowdown Hits Profits

According to Forrester, the web is on the verge of a transformation as people move away from traditional browsing and two new waves of innovation emerge. As web usage has boomed, so users demands have increased and in order to satisfy these demands new technologies must be developed. Forrester defines the X Internet “an executable… Continue reading The End Of The Web As We Know It?

The predicted profits warning from Capital Radio (see Insight Analysis: Radio Shares Take A Dive) was confirmed today as the group released its interim financial results, with the message that the advertising market has deteriorated further since its first warning in March. At that time Capital said that due to a weakening advertising market profits… Continue reading Capital Stock Recovers Despite Expected Profits Warning

Ad revenues at the New York Times publishing company were down by 15.4% in April, whilst the flagship NYT newspaper saw a fall of 16% during the month. The falls continue the trend from the first quarter which saw ad revenue across the group down 7% year on year (see New York Times Warns Of… Continue reading NYT Revenues Fall 15.4% In April, But Are Comparable With 1999 Figures

SMG this morning said that it has completed the acquisition of Orpheus Publications, publisher of consumer magazine titles The Strad, Double Bassist, Choir & Organ, International Piano Quarterly and Classic Record Collector. The company said it will acquire net assets of around £20,000. SMG Publishing’s magazine portfolio includes Scottish Farmer, Boxing News and The Great… Continue reading SMG Acquires Music Mag Publisher

Bert Meerstadt, the CEO of advertising agency Young & Rubicam Europe, has announced his intention to step down from his post this summer, after three years in the role. He will be replaced by Etienne Boisrand, formerly CEO of R&Y France and chairman of Y&R Asia. US-based Y&R was taken over by UK advertising and… Continue reading Young & Rubicam Europe CEO To Step Down This Summer

UK-based telecommunications company, Cable & Wireless, has this morning showed that moves to concentrate on its internet protocol (IP) networks may be starting to be off. Towards the end of 1999, C&W sold its UK consumer cable division – Cable & Wireless Communications (CWC) – to rival cable company NTL. Since then C&W has begun… Continue reading C&W’s Focus On IP Networks Pays Off

Stock in the radio sector is currently in freefall after Scottish Radio said it had ended merger discussions (see Scottish Radio Ends Takeover Talks As SMG Declines To Reveal Its Intentions) and a report in this morning’s Financial Times claimed that Capital Radio will tomorrow issue a profits warning. Shares in these two groups naturally… Continue reading Insight Analysis: Radio Shares Take A Dive