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Independent News & Media has agreed a financial standstill deal with its investors, giving it until late June to negotiate the refinancing of its €200 million (£178 million) bond.The publisher of the Independent newspaper has also secured €15 million (£13.3 million) in working capital.The standstill period starts today and runs until 26 June. INM said… Continue reading INM agrees “financial standstill” deal with investors

Semantic search engine Wolfram Alpha has launched today, potentially changing the way users find information online.The service, developed by UK physicist Stephen Wolfram, responds to queries by searching through a database and providing a direct answer, including graphs and charts if relevant, rather than providing a list of links as Google does.Wolfram says that the… Continue reading Semantic “search engine” launches today

BBC Magazines is preventing the closure of Good Homes magazine by selling it to Kelsey Publishing.BBC Magazines announced the closure at the end of last month, citing a drop in circulation (see BBC Good Homes magazine set to close).Staff will be asked if they want to transfer to the new publisher, with Kelsey’s first issue… Continue reading Kelsey Publishing buys BBC Good Homes magazine

Havas saw total revenue drop 6% year on year to €325 million in the first quarter of 2009, with organic growth declining by 8.4%. Its UK division showed “good resistance” however, with organic growth down just 1.6% year on year. Net new business was €507 million in Q1 2009, down from €510 million in the… Continue reading Havas sees total revenue fall 6% year on year

Independent News & Media has agreed a financial standstill deal with its principal banks and bondholders, giving it until late June to negotiate the refinancing of its €200 million (£178 million) bond. The standstill period starts today and runs until 26 June. INM said that to aid the negotiations a committee of bondholders has appointed… Continue reading INM agrees financial standstill agreement

Aegis has reported an 11.6% fall in organic revenue growth for the first quarter of 2009. However, the UK media-buying and research group has predicted a “resilient” performance for 2009 overall. The company said that reported group revenues, which include effects such as a significant exchange-rate benefit, grew by 6.5%, while its Aegis Media division… Continue reading Aegis reports 11.6% Q1 fall in organic revenue

UTV Media, owner of the Northern Ireland ITV franchise and talkSPORT, has reported a 19% decline in ad revenues at its TV division and a 15% drop at its radio operation for the first four months of the year.The broadcasting group, which owns more than 20 radio stations across the UK and Ireland, said the… Continue reading talkSPORT owner UTV reports 19% drop in ad revenue

Discovery has delayed the launch of its Freeview channel Quest for a second time.In a statement, the network said: “[The] challenging economic environment and a number of other commercial factors have made a delayed launch more financially prudent.”Discovery said it did not take the decision lightly – “it is our intention to launch the channel… Continue reading Discovery delays the launch of Quest

Clear Channel Outdoor is set to offer targeted advertising opportunities around the forthcoming Ashes cricket series.The outdoor firm has identified ad solutions from June 15 to help agencies take advantage of the cricket series, which attracted over 400,000 spectators the last time it took place over in the UK over the summer of 2005.Clear Channel… Continue reading Clear Channel offers targeted ads around Ashes series

There has been a decrease in mobile advertising recall in the UK, according to the latest quarterly Mobile Advertising Report by Brightkite and GfK Technology.However, the report found that the longer term trend is still positive, with an increase of five per cent since Q4 2008.Colin Strong, deputy MD of GfK Technology, said: “We are… Continue reading UK mobile advertising recall falls