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BT has been forced to announce plans to cut 15,000 job this year as it reports a £1.28 billion loss for the last three months.The telecoms company will lose around 10% of its workforce over the coming year after being pushed into a £134 million annual loss.BT has also cut its dividend to shareholders and… Continue reading BT reports £1.28 billion loss

ITV expects ad revenues to fall 16% in the first half of 2009 and plans to make additional cutbacks of £40 million in 2010. John Cresswell, ITV chief operating officer, said that around half the £40 million savings would come from the programming budget, with the other half coming from “across the rest of the… Continue reading ITV ad revenues expected to fall 16% in H1

BT has reported a £1.3 billion loss for the last three months, giving it an annual loss of £134 million. As a result it is set to cut 5,000 jobs over the coming year, roughly 10% of its workforce. It has already axed 15,000 jobs over the past year. The telecoms firm also revealed that… Continue reading BT reports £1.3bn loss for last three months

Johnston Press has reported a fall 34.4% fall in ad revenue for the first 19 weeks of the year. The regional publishing group said following this its operating profit for 2009 is likely to be towards the lower end of market expectations. It has also scrapped plans to sell its Irish titles despite “considerable interest”,… Continue reading Johnston Press reports 34.4% drop in ad revenue

Advertising revenue at Trinity Mirror’s regional division was down 36% year on year in for the 17 weeks to the 26 April. In an interim management statement released today, the company revealed that group advertising revenue declined by 30% year on year. Its regional division was down 37% in January and February and 35% in… Continue reading Trinity Mirror’s regional ad revenues down 36%

UKRD has outbid Hallwood Financial to take control of The Local Radio Company. Both bidders increased their offers yesterday, with UKRD raising its offer price to 4 pence a share from 3.25 pence a share, while Hallwood upped its from 4 pence a share to 5 pence a share. Hallwood’s latest offer was a 54%… Continue reading UKRD takes control of The Local Radio Company

Ashley Tabor, Global Radio’s chief executive, expects the radio group to hold its underlying operating profits flat for the 12 months to the end of March. Tabor said Global, which owns stations including Classic FM and Capital, will report underlying profits of around £31 million despite seeing a 20% downfall in advertising revenues for the… Continue reading Ashley Tabor predicts steady profits for Global Radio

Clear Channel Outdoor has reported a 25% year on year fall in revenues for the first three months of 2009, down from $775.6 million to $582.2 million. The company’s international division suffered a 29% revenue decline year on year in Q1, dropping to $312 million. Clear Channel Outdoor said the loss was primarily attributable to… Continue reading Clear Channel Outdoor reports 25% year on year fall in revenues

Carphone Warehouse has agreed a £236 million deal to buy the UK operations of Italian internet service provider Tiscali. Carphone Warehouse, which currently provides broadband services under its TalkTalk brand and also owns AOL UK, will be the UK’s largest home broadband provider with 4.25 million subscribers when the deal is finalised at the end… Continue reading Carphone Warehouse to buy Tiscali’s UK operations

JCDecaux has revealed that UK street furniture and billboard revenues declined in the first quarter of 2009. Chief executive of JCDecaux, Jean-Charles Decaux, predicted a group-wide revenue decline of 15% for the first half of 2009, as the company posted a revenue decline of 11.9% in Q1. Across the group, the company’s street furniture revenue… Continue reading JCDecaux sees Q1 decline in UK street furniture and billboard revenues