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Rupert Murdoch’s News Corporation has reported a $3.4 billion (£2 billion) net loss in the year to 30 June.Figures released today reveal that the media giant took $8.9 billion in writedowns on acquisitions, including a previously undisclosed $452 million charge in Q4 against the Fox Interactive Media division, which owns MySpace.Profits at the company’s global… Continue reading News Corp reports $3.4bn loss

The latest report from GfK’s Laura Dollin looks at how the recession is affecting consumers’ media habits…When will the recession end? This is the million-dollar question everyone wants the answer to. Whilst we can’t predict when the credit crunch will be over, it is possible to discover how the recession is affecting consumers, and what this… Continue reading GfK: When will the recession end?

Reports claim that Treasury minister Stephen Timms is to be appointed communications minister, overseeing the government’s Digital Britain plans.Timms will take over from Lord Carter, who confirmed his departure in June as the Digital Britain report was published (see Lord Carter expected to step down).Among the recommendations laid out in the report, Timms will have… Continue reading Timms to take on Digital Britain role

Lads’ mag Front and movie mag Hotdog have been sold by Sport Media Group, publisher of the Daily Sport, to a new startup for £87,500.Kane, controlled by 24 year old entrepreneur Dominic McVey and managing director of talent agency Money, Francis Ridley, acquired the mags after SMG decided to focus on its core businesses of… Continue reading Sport Media Group sells Front magazine

Guardian News & Media is reportedly considering options for the Observer, including its possible closure.According to reports across the broadsheet press, GNM is working on a three-year plan which includes ensuring the future of the Guardian.This follows Friday’s trading statement where the company revealed a pre-tax loss of £89.8 million for the year to the… Continue reading GNM could close the Observer

Tory shadow broadcast minister Ed Vaizey has indicated that if the Conservatives win power they will sell off Radio One.In an interview with the Sunday Times, Vaizey said that Radio One’s licence should be put up for auction. “Radio One is not fulfilling its obligation to its audience,” he said.“Its median age is those in… Continue reading Tory minister talks Radio One sell-off

Trinity Mirror’s has reported a 14.4% fall in ad revenue across its national titles in the first six months of the year and a 34.5% decline across its regional division. Total group revenues fell by 16.9% year on year to £383 million in the first six months. Total ad revenue was down 28% to £168.4… Continue reading Trinity Mirror’s national newspaper ad revenue down 14.4%

BT’s share price went up by more than 10% today after the company released better than expected results for Q1 2009.However, the company’s results also show the affect the ongoing recession has had on its pension fund, which is the largest private sector scheme in the UK.By the end of June, the £30.4 billion pension… Continue reading BT’s results boost shares

Magazine publisher Future has reported a 9% year on year fall in revenue for the nine months to the end of June. Advertising revenue was down 14%, the company said in an interim management statement today, while circulation revenue fell 8%. Total revenue fell 2% year on year in the nine months to the end… Continue reading Future reports 9% fall in revenue

A new 10 year partnership will see Microsoft’s Bing search engine power Yahoo! search while Yahoo! will provide the worldwide sales force for both companies’ premium search advertising.Under the terms of the deal, Microsoft will acquire an exclusive 10 year license to Yahoo!’s core search technologies, and have the ability to integrate Yahoo! search technologies… Continue reading Microsoft and Yahoo! confirm 10-year ad deal