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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

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

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