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Publicis Groupe chairman Maurice Lévy says that the business model for print media is broken.Speaking at yesterday’s Fipp World Magazine Congress in London, Lévy said that there were tough times ahead for traditional media, with structural issues at the heart of the problem.He said: “The end of the economic crisis will not be, I’m sorry… Continue reading Maurice Lévy: “Print media’s business model is broken”

Virgin Media added 7,100 new subscribers in the first quarter of 2009 but saw revenues fall below £936 million, although the company managed to convert more of that into cash that the City had expected. The cable company persuaded 47,300 households to take up its broadband service, down from the 57,100 in the run-up to… Continue reading Virgin Media gains 7,100 customers in mixed first quarter

Independent News & Media has reported a full-year pre-tax loss of €161.4 million for 2008. INM has also failed to reach a deal with bondholders over a €200 million bond having previously warned that its failure to agree a deal means there is “a material uncertainty which may cast significant doubt on the group’s and… Continue reading Independent News & Media reports €161.4m loss

Sky has reported a rise in third quarter revenues from £1.25 billion to £1.39 billion, while profits increased from £56 million to £63 million. The satellite broadcaster said that profits were distorted slightly by impairment charges mainly connected with the reduction in the value of the 17.9% stake in ITV that it bought in 2006… Continue reading Sky reports rise in third quarter revenues

Publicis Groupe has reported a 4.4% dip in revenue for the first three months of the year, to €1.08 billion. Publicis, which owns Saatchi & Saatchi and ZenithOptimedia, saw revenues fall in all regions except Latin America and the Middle East and Africa, with central European markets proving more resilient than western Europe. Maurice Levy,… Continue reading Publicis Groupe reports a 4.4% dip in revenue

WPP has reported a 5.8% year on year fall in like-for-like revenue for the first three months of the year, saying that it would not meet its full year forecasts.However, its UK operations increased revenue by 16% year on year in the first quarter, totalling £251.1 million.Global revenue rose by 36% to £2.12 billion compared… Continue reading WPP reports 5.8% fall in like-for-like revenue

Interpublic Group has reported a 5.6% year on year drop in revenues for the first three months of the year. Total revenue for the first quarter was $1.33 billion (£910 million), down from $1.49 billion in the same period in 2008. Michael Roth, Interpublic chairman, said: “To date this year, we’ve continued to see the… Continue reading Interpublic Group suffers 5.6% drop in revenue

WPP has reported a 5.8% year on year fall in like-for-like revenue for the first three months of the year. However, its UK operations increased revenue by 16% year on year in the first quarter, totalling £251.1 million. Global revenue rose by 36% to £2.12 billion compared with £1.6 billion in the first three months… Continue reading WPP reports first quarter 5.8% fall in revenue

Independent News & Media has seen two of its biggest shareholders offer £27 million of their own cash to secure refinancing for the ailing group. Sir Anthony O’Reilly and Denis O’Brien have put up the cash to help renegotiate a €200 million bond before a mid-May deadline. INM’s advisors hope to convince investors to roll… Continue reading Independent News & Media shareholders attempt to secure refinancing

Lord Carter, the communications minister who is currently composing the final Digital Britain report, has been mooted as a potential replacement for Michael Grade as ITV’s chief executive.Yesterday, the commercial broadcaster announced that Grade would step down before the end of the year to become a non-executive chairman and allow the broadcaster to bring in… Continue reading Lord Carter could replace Grade at ITV