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Independent News & Media is considering a “deeply discounted” rights issue in order to repay some of its €200 million (£169 million) bond. The owner of the Independent, Independent on Sunday and Belfast Telegraph, said that it will extend the Friday deadline its €200 million bond until 24 July. In a statement to the Irish… Continue reading INM considering “deeply discounted” rights issue

Top Up TV founder David Chance could be appointed to the Setanta board following the departure of Irish financier Barry Maloney earlier this week.The appointment would come as part of American businessman Len Blavatnik’s £20 million rescue deal for the beleaguered broadcaster.Blavatnik, whose Access Industries currently holds a majority stake in Top Up TV and… Continue reading Setanta could appoint Top Up TV founder to the board

Tony Ball, the former chief executive of BSkyB and frontrunner to succeed Michael Grade at ITV, has been appointed as a non-executive director at BT.Ball, who is currently chairman of Germany’s cable operator Kabel Deutschland, is set to join the BT board on July 16.BT hopes his appointment will bring more broadcast experience to the… Continue reading Tony Ball appointed to BT board

Guardian Media Group’s national newspaper division, Guardian News & Media, is set to report a loss of about £35m for the financial year to the end of March. GMG Radio and GMG Property will also report operating losses, according to a report on MediaGuardian.co.uk, while GMG’s regional newspaper division will make an operating profit of… Continue reading Guardian Media Group to report operating loss

Tony Ball, ex-chief executive of BSkyB and frontrunner for the ITV chief exec job, has indicated that he would bring in new board members if appointed.Ball would bring in new non-executive directors to replace people such as Sir James Crosby and Sir Adrian Russell, according to a report in the Observer.Mike Clasper, appointed to the… Continue reading Frontrunner for ITV chief exec job to shakeup board

Communications minister Lord Carter is expected to leave his job after the publication of the Digital Britain report next week.According to reports, Carter will leave the government by the end of the month to return to the private sector.In an interview with the Times he refused to confirm if he would still be a minister… Continue reading Lord Carter expected to step down

Russian oligarch Alexander Lebedev may have to pay up to £20 million to acquire the Independent and Independent on Sunday newspapers.According to a report published today by Citigroup, the titles, which lost £13 million last year, could be worth as much as £20m.It said that while the papers are arguably “core” to the INM brand,… Continue reading Lebedev may have to pay £20m for Independent titles

Alexander Lebedev, Russian oligarch owner of the London Evening Standard is understood to be in talks to acquire the Independent and Independent on Sunday.Senior executives from Independent News & Media (IN&M) have been in discussions with Lebedev’s representatives over a possible sale, with one source claiming that a nominal offer for both titles has already… Continue reading Evening Standard owner in talks to buy Independent titles

Express Newspapers made an operating loss of £2.6 million in 2008, with a £17.1 million increase in printing costs adversely affecting profitability. According to accounts filed at Companies House, Express Newspapers suffered a 91% drop in pre-tax profit, down from £54.9 million in 2007 to £4.8 million in 2008. It said that the fall was… Continue reading Express Newspapers makes £2.6m operating loss in 2008

BSkyB chief executive Jeremy Darroch has said that although the satellite broadcaster has been in talks with beleaguered rival Setanta, it is not its job “to fund other companies”.BSkyB has been in talks with the Irish broadcaster over a deal for the its 46 live 2010-2011 Premier League games. Setanta wants extra funding to avoid… Continue reading BSkyB chief: “not our job to fund other companies”