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The profit margins within traditional media, including newspapers and television, will never be the same again, according to WPP’s chief executive Sir Martin Sorrell.Speaking at an IAA event yesterday, Sorrell warned that the media industry continues to be “disintermediated” by low-cost business models.“The painful thing for old media is it will never be the same… Continue reading Sorrell: Old media will never be as profitable again

US newspaper ad revenues are forecast to fall to $28.4 billion by 2012, down from an estimated $37.9 billion in 2008, according to new research from eMarketer. eMarketer forecasts a 15.9% drop in 2009, pulling ad revenues down to $31.9 billion. From 2010 through 2012, the rate of decline will slow but remain in negative… Continue reading US newspaper ad revenues on downward slide

Former KGB agent Alexander Lebedev has acquired London’s Evening Standard for £1 from Daily Mail & General Trust.The deal will see a new company, Evening Standard Ltd, established that will own the paper, with Lebedev taking a stake of 75.1% and DMGT subsidiary Associated Newspapers becoming a minority shareholder with 24.9%.Associated will continue to provide… Continue reading Lebedev buys Evening Standard

The BBC should be at the heart of public service broadcasting in the UK and take on a key role of pioneering new digital platforms, according to Ofcom’s new report published today.Ofcom’s much-anticipated public service broadcasting blueprint suggests that the BBC should focus on the development and take-up of content across new platforms but rejects… Continue reading Ofcom rejects top-slicing the BBC’s funding

Ed Balls, the secretary of state for children, schools and families, has criticised a proposal to remove local councils’ obligation to place public notices in local newspapers.Balls described such a move as a “retrograde thing to do”, adding “I don’t think it would be sensible to have any strategy on these things which actively damages… Continue reading Balls opposes removal of mandatory council ads in local press

Channel 4, ITV and Five are all pleased with the recommendations set out in Ofcom’s Public Service Broadcasting blueprint, which was published earlier today (see Ofcom rejects top-slicing the BBC’s funding).Channel 4’s chief executive Andy Duncan has welcomed Ofcom’s proposals to create a new commercial public service broadcaster, moulded around C4.Duncan said that Ofcom’s idea… Continue reading C4, Five and ITV welcome Ofcom recommendations

Declan Boyle has been appointed ad director at IPC Innovator – IPC Advertising’s centralised insert and cross platform direct division.Boyle will spearhead a repositioning of Innovator as it offers direct response clients solutions to their database marketing and direct multiplatform needs.Ali Deas, IPC Advertising central sales group ad director, said: “Declan’s wealth of experience in… Continue reading New IPC Innovator ad director

Russian oligarch Alexander Lebedev has acquired London’s Evening Standard for £1 from Daily Mail & General Trust. The deal will see a new company, Evening Standard Ltd, established that will own the paper, with Lebedev taking a stake of 75.1% and DMGT subsidiary Associated Newspapers becoming a minority shareholder with 24.9%. Associated will continue to… Continue reading Ex-KGB spy buys Evening Standard

BBC One’s live coverage of President Obama: The Inauguration pulled in more than 7 million peak viewers yesterday, making it one of the highest rating programmes of the day.More than 5.1 million average viewers tuned in to see Barack Obama enter the White House yesterday afternoon, securing BBC One with a significant 33.2% audience share… Continue reading Obama’s inauguration attracts 7 million viewers

Michelin-starred chef Heston Blumenthal kicked off the Great British Food Fight season on Channel 4 last night, with Big Chef Takes on Little Chef.The first of three programmes, which follows Blumenthal’s mission to redesign to menu of the struggling roadside restaurant chain, pulled in more than 3.4 million peak viewers and an average 12.7% audience… Continue reading Great British Food Fight kicks off with 3.4 million viewers