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Dennis Publishing has acquired global entertainment portal Kontraband.com, adding it to its portfolio of online brands such as Monkey, Maxim.co.uk and autoexpress.co.uk.Launched in 1999, Kontraband.com is an entertainment portal for 18 to 34-year-old men, featuring viral video and pictures, games, blogs and forums.Kontraband.com’s content is edited by a team of five, all of whom will… Continue reading Dennis Publishing acquires Kontraband.com

Independent News & Media is in talks with banks and bondholders about extending its debt standstill deal, according to a Financial Times report. The publisher of the Independent has a standstill agreement in place which is due to expire on Friday. If an extension is agreed INM will avoid going into examinership, or bankruptcy protection.… Continue reading INM negotiating debt standstill extension

Regional newspaper publisher Newsquest suffered a 36.9% year on year fall in advertising revenue in the second quarter of 2009. However, Newsquest said that June was its strongest month since the start of the advertising slump. Classified advertising fell 45.2% year-on-year fall in the second quarter. Within classifieds, recruitment ad revenue fell 55.6%, property ads… Continue reading Newsquest advertising revenue falls 36.9%

Google has reported an 18% increase in net profits for the three months to the end of June, to $1.48 billion (£901 million). Revenues were up 3% year on year to $5.52 billion (£3.36 billion) with Google saying the increases were due to “responsible efforts to manage expenses”. Chief executive Eric Schmidt said: “Google had… Continue reading Google reports profits increase

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