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The media industry is not helping itself and is in danger of destroying value.

Greg Grimmer looks back at 2011 – Facebook’s ever-increasing IPO valuation, Stephen Haines’ move from Earlsfield to Monaco, the royal media wedding and the News of the World fiasco, right through to December’s silly season in Fitzrovia…

WPP’s GroupM has reduced its 2011 UK ad spend forecast from 1.5% to 0.7%.

WPP has announced that its wholly-owned digital marketing technology business, 24/7 Real Media, has acquired the assets of the digital video advertising software company Panache.

ITV1’s X Factor results show, which saw Misha B leave the competition, attracted a high of more than 11.2 million viewers last night.

Sky is expected to launch a wholesale fibre broadband offering in the next few months, according to Bank of America Merrill Lynch (BoAML).

GroupM has downgraded its 2011 US ad forecast from 3.8% growth for all measured media to 3.3%, according to MediaPost.

BARB’s future focus is on measuring viewing on other devices. It is adding web TV measurement to a further 1000 panel homes next year and this could be the point at which it can start reporting on viewing through laptops and PCs.

Armed with a 2 litre bottle of Strongbow (a “targeting” prize from the panel sponsors, Kantar), Neil Mortensen questioned a panel of media agency research directors at yesterday’s MRG conference.

The Financial Times now earns more from consumers through subscription revenue than advertising, delegates at the Ignition conference were told.