The City was shocked today when the Bank of England increased interest rates by a quarter-point to 7.5% because wage inflation was too high and the pound had fallen too quickly.Shares lost value rapidly and the FT-SE 100 index was down more than 50 points at one stage before recovering.
Axel Springer, the German publisher which recently expressed an interest in buying the Mirror Group, has remained silent since its initial announcement a couple of weeks ago (see Mirror Group Awaits Springer Bid).Mirror Group advisors are believed to be talking to the Takeover Panel in an attempt to prevent Springer from drawing out the process… Continue reading Springer Remains Silent On Mirror Takeover
Stuart Higgins, editor of The Sun, suddenly resigned yesterday after five years as editor of the tabloid newspaper.According to The Sun, commenting on his departure, Higgins said: “It has been incredibly hard work and I have had a wonderful time, but I am certain this is the right time in my life to make a… Continue reading Sun Editor Resigns
Viewing shares stand at more or less the same levels this week. ITV continues to hold a commanding 33%. BBC1 follows with 28%, BBC2 has 10.7%, Channel 4 10.8%, and despite an overall improvement in some of its audience figures over recent weeks Channel 5 still sees no improvement and clings on to its 3.9%… Continue reading TV Viewing Summary W/E 24/05/98
The ITC has reported that 48 viewers complained about an ad for Sky’s Movie Channels which featured people quoting famous lines from various films. One of these is Michael Caine’s immortal line from the Italian Job: “You were only supposed to blow the bloody doors off!”A number of complainants objected in principle to the use… Continue reading Sky Told To Move Ad Past Watershed
The Radio Authority has said that it will be conducting a public interest test into 107.1 BFM’s application to run the new small-scale licence covering the Greater Manchester area.This is due to the fact that the Independent Radio Group owns 107.1 BFM and also two other services (Lite AM and Wire FM ) which would… Continue reading RA To Conduct Interest Test On Manchester Licence
The Cable Communications Association (CCA) has said that it is to restructure its role following a high degree of consolidation of companies in the cable industry.As a result of this the Association’s chief executive, Bob Frost, has left the CCA. The reorganisation meant the chief executive’s post was ‘no longer deemed necessary’, according to a… Continue reading CCA To Restructure In The Light Of Cable Industry Consolidation
Sky Sports today announced that it had won exclusive live TV rights for the new Scottish Premier League competition. The satellite broadcaster paid £45 million for the coverage, which will last for four years.Under the contract, Sky will broadcast 30 matches live each season. These will be screened at 6.05pm on Sunday afternoons.The deal for… Continue reading Sky Signs Up New Scottish Football League
Bristol United Press has reported a 73% increase in pre-tax profits to £14.5 million for the period ended 31 March 1998.The regional publisher, which produces the Bristol Observer Series, gained £1.1 million operating profit from the acquisition of Wessex Newspapers in September last year for £35 million (see Newsquest Sells Titles). It also gained exceptional… Continue reading Bristol United Press Reports £14.5m Pre-Tax Profit
Which? Online, the website of Which? magazine, is considering introducing a pay-per-view service. This would be a first for a UK consumer publisher.It is anticipated that users who do not subscribe to the whole site will be able to purchase specific Which? reports. Payment systems are currently being tested by the publisher, which is part… Continue reading Which? Online Considering PPV First
