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Media giant, AOL Time Warner, today reported a 6% jump in revenues during its second quarter, boosted by strong performances from the film and cable divisions. The group’s revenues hit $10.8 billion for the quarter, whilst net profit jumped from last year’s $396 million to $1.1 billion this time. Chairman and CEO, Dick Parsons, described… Continue reading AOL TW Figures Improve, But Online Is Still Weak

A number of high profile sequels could not prevent June’s cinema admissions from dropping to 9.4 million, down from 12.2 million in the same period the previous year, according to the latest figures from the Cinema Advertising Association (CAA).The data shows that June’s cinema admissions averaged just 2.19 million a week as consumers turned their… Continue reading Seasonal Dip Hits June’s Cinema Admissions

The fate of Cordiant Communications has been all but sealed this afternoon, as shareholders voted overwhelmingly in favour of the proposed takeover of the group by WPP. At an extraordinary general meeting today, shareholders representing 99.2% of the company’s stock voted to proceed with WPP’s £266 million takeover bid (see WPP Closes In On Cordiant,… Continue reading WPP Triumphs In Cordiant Battle

The fate of Cordiant Communications has been all but sealed this afternoon, as shareholders voted overwhelmingly in favour of the proposed takeover of the group by WPP.At an extraordinary general meeting today, shareholders representing 99.2% of the company’s stock voted to proceed with WPP’s £266 million takeover bid.Only 75% approval was needed for the deal… Continue reading WPP Triumphs In Cordiant Battle

After approving the takeover by WPP earlier today (see WPP Triumphs In Cordiant Battle), Cordiant Communications’ shareholders have also voted in favour of removing the company’s chief executive, finance director and chairman from its board of directors, according to a report from Reuters. Cordiant’s largest shareholder, Active Value, had called for the directors to be… Continue reading Directors Go In Cordiant Shareholder Vote

Global information group, Reuters, has this morning unveiled a first half pre-tax profit of £87 million, following a loss of £10 million for the same period in 2002. This figure is substantially ahead of a £57 million forecast from Merrill Lynch.However, despite the strong pre-tax profit figure, Reuters’ overall revenues were down by 12% to… Continue reading Reuters Moves Into Profit As Savings Plan Pays Dividends

The Guardian Media Group (GMG), publisher of the Guardian and Observer newspapers, has posted strong financial results for the twelve months to March 2003, despite the difficult trading conditions that have typified the period. The group said that advertising revenues were up by 4.1% to £254.9 million, whilst circulation revenues rose by 6.2% to £81.7… Continue reading Guardian Media Group Posts Good Figures In Weak Markets

The ASA has stepped into a dispute between Freeserve and Tiscali by upholding complaints against a direct mailing, which misleadingly claimed Tiscali was Europe’s leading internet service provider.The advertisers argued the claim was based on the fact their European geographical coverage spanned 13 countries and was far wider than that of any other ISP. They… Continue reading ASA Slams Tiscali For Misleading Mailings

Sunrise Radio’s bid to acquire Mean Country 1035 AM has been given preliminary approval by the Radio Authority, following the passing of the Government’s Communications Act last week (see Parliament Finally Green Lights Communications Act). Sunrise, which operates radio stations for Asian listeners in London and across the UK, is planning to takeover Mean Radio… Continue reading Watchdog Shines On Sunrise Radio’s Mean Country Bid

The Daily Telegraph is continuing its efforts to appeal to a younger readership by sponsoring the Rip Curl Boardmasters surf and skate festival in Newquay, which runs between 26 July and 3 August.The recently relaunched broadsheet is running an in-paper competition with Nokia to offer readers the chance to win a weekend for four in… Continue reading Surf’s Up As Daily Telegraph Targets Younger Readers