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Operating profits at the BBC’s commercial division, BBC Worldwide, fell 27% year on year to £85.7 million in the year to the end of March. However, the figures, revealed today in the Corporation’s annual report, also show that revenue was up 9.5% year on year, passing the £1 billion mark. BBC Worldwide said that profits… Continue reading Operating profits fall 27% at BBC Worldwide

McGraw-Hill has put its weekly New York-based publication BusinessWeek up for sale.The magazine, which claims to have around 4.8 million readers in 140 countries, lost 30% of its advertising revenue in Q2 this year, according to reports.McGraw-Hill has appointed investment bank Evercore Partners to sell the title, which has almost 190 editorial staff under editor-in-chief… Continue reading BusinessWeek is on the market

Telegraph Media Group has reported a pre-tax loss of £15.7 million for 2008, following a £9.9 million profit in 2007. Operating profit at TMG fell 6.7% in the year ending 28 December 2008, from £34.3 million to £32 million. Turnover was down 3% to £343.4 million for the period, despite falling advertising revenues across the… Continue reading Telegraph Media Group reports £15.7m loss for 2008

Reed Business Information is selling its B2B travel division, including magazines Travel Weekly and Travolution, to entrepreneur Clive Jacobs.He has agreed to buy the magazines and website Gazetteers.com, as well as associated online services and events, for an undisclosed sum.The former publishing director of Reed Business Information’s travel division, Simon Ferguson, will run the newly… Continue reading Reed Business Information sells B2B travel business

Independent News & Media has cut its stake in Indian media company Jagran Prakashan from 20.8% to 13.5%, raising €22 million (£19 million).INM is currently negotiating the refinancing of a £200 million (£178 million) bond, due for payment on 24 July.It said that it would use the money raised from the sale to “pay down… Continue reading INM cuts stake in Indian media company

Newspaper firm Gannett, which owns regional publisher Newsquest in the UK, is to cut 1,400 US jobs in the coming weeks as a result of the sustained fall in the advertising market. Bob Dickey, president of Gannett’s community publishing unit, told staff yesterday in an internal memo that most job losses would take place by… Continue reading Gannett to cut 1,400 US jobs

The Local Radio Company said today that it is continuing to restructure its portfolio and reduce its central overheads. It is understood that the company’s restructuring process will see it sell around four more stations. In unaudited results for the six months to 31 March, TLRC said like for like revenue from continuing operations was… Continue reading The Local Radio Company continues with restructure

Microsoft has reportedly put digital agency Razorfish up for sale, with Publicis Groupe one of the favourites to buy it.Razorfish was acquired by Microsoft when it bought parent company aQuantive for $6 billion in 2007.A report in the Financial Times quotes an unnamed analyst as valuing Razorfish at $600-700 million based on sales of about… Continue reading Microsoft to sell digital agency Razorfish

The Local Radio Company has sold Arrow FM in Hastings and Sovereign Radio in Eastbourne. The stations, which have combined net liabilities of £1.7 million and £100,000, sold the stations to radio company Media Sound Holdings. Arrow FM has an audience of 21,000 listeners according to the RAJAR figures for Q1 2009. In the eight… Continue reading The Local Radio Company sells Hastings and Eastbourne stations

Microsoft has reportedly put digital agency Razorfish up for sale, with French marketing firm Publicis favourite to buy it. Razorfish was acquired by Microsoft when it bought parent company aQuantive for $6 billion in 2007. A report in the Financial Times quotes an unnamed analyst as valuing Razorfish at $600-700 million based on sales of… Continue reading Microsoft to sell digital agency Razorfish