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Swedish freesheet company Metro International has received a bid approach from an unnamed source. The Stockholm-listed company’s shares rose more than 60% following news of the bid, taking the value of the company to about 380 million kr (£30 million). Metro, the third largest newspaper company in the world, is holding a shareholder meeting today… Continue reading Metro International receives bid offer

ITV could sell SDN, its digital television business, as it looks to raise extra funds. According to a report on MediaGuardian.co.uk, the sale could come as ITV executive chairman Michael Grade finalises plans to raise cash as the company faces falling advertising revenues and pressure from servicing its debt and pension fund. MediaGuardian.co.uk says that… Continue reading ITV could sell Freeview business

Centaur, owner of Marketing Week, has issued a profit warning after revealing that recruitment advertising in January will be down 66% year on year. The company, which report its half-year results next Thursday, issued a trading statement today saying trading in February has shown “few signs of improvement”. “We have not experienced any material change… Continue reading Centaur issues profit warning

Reed Elsevier still plans to sell is business-to-business arm, Reed Business Information, despite pulling the division off the market. In its full year 2008 results published today, Reed also revealed that its profits were down almost 40%. The company halted the proposed sale of RBI in December, saying that the worsening state of the economy… Continue reading Reed Elsevier still planning to sell trade magazine division

ITV is understood to have put its social networking website Friends Reunited up for sale in a move to be announced in its annual results next month. The decision to put sell the business is part of a wider cost cutting drive that will include a possible cut of 10% of the company’s workforce. ITV… Continue reading ITV to sell Friends Reunited

Publicis Groupe has reported a 1.1% fall in net profits for 2008, to €447 million (£400 million). Publicis, the world’s fourth largest advertising and marketing group, also reported a 0.7% year-on-year increase in revenue to £4.7 billion (£4.2 billion) with an overall organic revenue growth rate of 3.8%, meeting analysts’ forecasts. The firm’s digital operations… Continue reading Publicis reports 1.1% fall in net profits for 2008

Advertising revenue at Daily Mail & General Trust’s national newspaper division fell by 23% in January. Ad revenue was also down 40% on DMGT’s regional titles, although in a trading update released today, it said that overall revenue was up by 2% year on year in the three months to December 31, the first quarter… Continue reading DMGT sees ad revenue fall in January

InSkin Media, the video and rich media advertising platform, has appointed Hugo Drayton as CEO, just two months after he stepped down from the controversial behavioural targeting company Phorm.Drayton, who left Phorm after two years as CEO, previously worked as managing director of Advertising.com and the Telegraph Media Group.“InSkin is an irresistible opportunity for me.… Continue reading InSkin hires ex-Phorm executive as CEO

Shares in the online market research company YouGov have halved since the company warned that half-year profits would be “significantly lower than market expectations”. However, the chief executive has defended his decision to maintain investment in the group despite the profit warning. Last Thursday, the company released a trading statement admitting that profits for the… Continue reading YouGov shares crash after profit warning

News Corporation has reported a loss of $6.4 billion (£4.37 billion) for the last quarter of 2008. News Corp’s ‘Other’ category reported an adjusted operating loss of $38 million (£25.9 million), down from $61 million (£41.6 million) a year ago. The media conglomerate also posted operating income of $818 million (£557.9 million), down 42% compared… Continue reading News Corp reports £4m loss in last quarter of 2008