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Archant has announced a 27% fall in operating profits for 2008 to £2.2 million, down from £30.5 million in 2007. Archant chairman Richard Jewson attributed the drop to declines in recruitment and property advertising revenues in the newspaper business and in property and display advertising in the Life magazines. Turnover from ongoing operations reduced 9.2%… Continue reading Archant’s operating profits fall 27%

Talks between Sky and Tiscali over the satellite broadcaster’s purchase of Tiscali’s UK assets have broken down due to deteriorating market conditions. Tiscali said today that talks with BSkyB are “almost impossible” to continue due to the financial climate. On Friday, Tiscali suspended its shares and asked banks to halt its interest repayments while it… Continue reading Sky and Tiscali end talks

WPP has reported a 3.8% rise in pre-tax profit and a 2.7% rise in like-for-like revenues for 2008. The global marketing services group reported profits of £747 million for the year and an operating margin of 15%, although this was below its target of 15.3%, which WPP said was due to a weak fourth quarter.… Continue reading WPP reports 3.8% rise in pre-tax profits for 2008

WPP’s chief Sir Martin Sorrell has announced plans to cut up to 2,000 jobs across the world’s second largest advertising and marketing company in the wake of the on-going economic crisis.Despite reporting a strong set of results for 2008 earlier this morning, Sorrell said WPP has a three-pronged strategy for weathering the recession, which will… Continue reading WPP to slash 2,000 jobs

Associated Newspapers’ free morning title Metro suffered double-digit declines in advertising revenues for the first quarter of the year. Managing director Steve Auckland revealed that the drop in advertising follows single digit declines between October and December last year. Auckland said: “The paper is still profitable, but it has suffered a double-digit decline in ad… Continue reading Metro suffered double-digit ad revenue declines in Q1 2009

ITV has reported an adjusted pre-tax profit fall of 41% in 2008 to £167 million and a 32% drop in earnings before interest, tax and amortisation to £211 million. Annual revenues fell 3% from 2007 to £2.03 billion. Advertising revenues fell 4% to £1.43 billion, compared to a 5% fall in the overall TV market,… Continue reading ITV reports 41% fall in profits for 2008

ITV is set to slash a further 600 jobs, cut £65 million from its programme budget and sell Friends Reunited and SDN in a desperate attempt to recover finances following its 41% profit decline.The struggling broadcaster today reported an adjusted pre-tax profit fall of 41% in 2008 to £167 million and a 32% drop in… Continue reading ITV’s profits down by 41%

The chief executives of the UK’s top regional newspaper groups have joined forces to pressure the government into relaxing merger restrictions.According to a report in the Financial Times, the Local Media Alliance came into being in January and then held a secret meeting at Claridge’s with communications minister Lord Carter on February 2.The seven executives… Continue reading Regional newspaper groups form alliance

ITV remains confident in the long-term course set by its content-led strategy, but will it be able to survive in the short-term?ITV today announced total losses of £2.7 billion after a huge downward realignment of its asset valuation – the broadcaster reported a pre-tax profit fall of 41% in 2008 and a 20% decline in… Continue reading Can ITV survive in the short-term?

Clear Channel Outdoor’s worldwide revenue was flat year on year during 2008, although it fell 16% year on year in the fourth quarter. Revenue at Clear Channel’s international division was up by approximately $62.3 million in 2008, mainly brought about by movements in foreign exchange. There was, however, a slight revenue decline in the UK.… Continue reading Revenues flat at Clear Channel Outdoor