Troubled advertising agency network, Cordiant Communications, is understood to be seeking a refinancing of its £276.4 million overdraft facility after tough trading conditions and negative newsflow have hit the company hard.Cordiant is reported to be in talks with its bankers about its extending its overdraft, following a period of weak advertising sales and acquisitions which… Continue reading Cordiant Looks To Refinance Overdraft After Tough Year
Relaunched financial paper The Business, which reappeared as a Sunday/Monday title after its previous incarnation, the Sunday Business had to sign a refinancing agreement and close over Christmas (see Sunday Business Set For Relaunch), is reporting a successful first week of sales.Estimates by the paper, which now costs 50p, are that street sales for last… Continue reading The Business Reports 50% Sales Increase
The Government has admitted that the deadline for the digital switchover could be delayed until at least 2010 due to the lack of consumer interest in digital TV.A spokeswomen for the DCMS today conceded that the current 2006-2010 deadline was a “challenging target” and said: “Unless the uptake of digital TV improves by 2006/2007 we… Continue reading Delay For The Digital Deadline
Internet shopping services were used by almost 33 million Europeans during the month leading up to Christmas, according to new research from Jupiter MMXI. With 9 million at home users, the UK was behind only Germany’s 10 million in terms of online retail site usage, representing an increase of over 40% year on year.Patricia Lueer,… Continue reading Internet Shopping Enjoys Christmas Boom
The ITC has upheld complaints against ITV1’s The Frank Skinner Show for containing “graphic sexual language” but has defended the show’s “edgy and provocative nature.”The ITC received a total of 40 complaints from viewers offended by an episode of the Frank Skinner Show that was shown last November. 27 viewers objected to an interview with… Continue reading ITC Condemns Graphic Sexual Language
This year will be a disappointing one for the European cellular handset industry, according to a report released by the Yankee Group this month, which claims that saturating markets, infrastructure delays and other external events during 2001 “have all conspired to abruptly turn booming sales into the first ever year of market contraction.” Nevertheless the… Continue reading Mobile Handset Sales Will Contract This Year, But Return To Growth With 3G Takeup, Says Yankee Group
Total viewing to UK television fell last year for the first time since 1994, according to a new report from Carat, the media buying agency of Aegis Group. The report shows that average viewing per household fell to 213 minutes per day in 2001, down from 216 minutes a year earlier. The downward trend is… Continue reading 2001 UK TV Viewing Fell For First Time Since 1994, Says Carat Report
US magazine adspend continued to decline in December according to the latest figures from the Publishers Information Bureau. Following continued decline in November (see Forecasts), revenues for December are down 11.2% on the same period last year. For the period January to December 2001, revenues fell by 19.4% on last years total. Ad pages were… Continue reading US Magazine Adspend Decline Continues In December
Pace Technology has unveiled a new low-cost digital receiver that will allow viewers to receive free-to-air channels without subscribing to digital platforms such as Sky or ITV Digital. Pace have launched the no-frills set top box, which can also be upgraded to receive pay-TV, interactive and internet services, in an attempt to increase the take-up… Continue reading Pace To Speed Digital Take-Up
Cordiant was one of only five companies to see stocks improve amid the gloom of yesterday’s media market. Shares rose 3.32% to close at £1.09, an increase of 3˝p on the previous day.Telewest, which recently launched an advertising campaign to raise awareness of its range of services (see Telewest Launches Ad Campaign), was one of… Continue reading Sharewatch
