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According to reports in today’s Financial Times, Vodafone has pulled out of the running to purchase Tiscali, an Italian ISP with operations in Italy and the UK. Vodafone reportedly quit the auction process due to disagreements over Tiscali’s valuation. Other UK companies still interested in acquiring Tiscali are BSkyB and Carphone Warehouse, while Switzerland’s incumbent… Continue reading Vodafone Pull Out of Running In Tiscali Takeover

Virgin Radio owners Scottish Media Group have confirmed the sale of Virgin Radio to a consortium including The Times of India Group for £53 million by the end of June. The station will be renamed, in order to ensure there are no branding restrictions imposed by Sir Richard Branson which could affect the new owners… Continue reading Virgin Radio Sold

LinkedIn, the professional social networking site has secured an extra $53m (£27m), to fund its expansion plans in Europe, which takes the company’s value to $1bn. LinkedIn now has 23 million members worldwide, with the UK making up one million members and more than six million in Europe. It allows professionals to keep in touch… Continue reading LinkedIn Valued At More Than $1 Billion

Talks between UBM and Informa over a £3 billion merger have broken down, while Informa is believed to have received a a rival approach from private equity firm, Providence Equity Partners. Reports in the trade press suggest that Providence Equity is the company behind the approach for the Lloyd’s List publisher, although the Times claims… Continue reading Merger Talks Break Down between UBM And Informa

Informa, publisher of Lloyd’s List, is holding preliminary talks with United Business Media (UBM) over a merger that could create a business-to-business giant valued at around £3 billion. Following press speculation, Informa confirmed in a statement it was discussing an “all-share merger”. Informa, owner of market research firm Datamonitor, has been seen as vulnerable to… Continue reading Informa Holds Merger Talks With UBM

Express Newspapers has reported pre-tax profits of £55 million for 2007, according to accounts filed at Companies House. The owner of the Daily Express and Daily Star national newspapers has reported a pre-tax profit of £54.85 million, on turnover of more than £280 million, in the year ending 31 December, 2007. Turnover in 2006 was… Continue reading Express Newspapers Reports Pre-Tax Profits Of £55m

TNS has agreed a ‘merger of equals’ with German market research firm GfK, after it rejected bids from Sir Martin Sorrell’s WPP.The new company, to be called GfK-TNS, will have operations in 111 countries and will be the second largest market research firm in the world after the Nielsen Company.Following the merger, the GfK-TNS board… Continue reading TNS And GfK Agree Merger

Creative agency brothers and sisters has hired Kevin Brown as digital director, completing the move to a fully integrated agency.Brown was previously digital development director at IPC (see IPC Appoints Digital Development Director) and head of interactive at Virgin Media TV.Working with the creative directors at brothers and sisters, Brown will focus on enhancing the… Continue reading Brothers and Sisters Appoint Ex-IPC Digital Chief

Specialist magazine publisher Future has reported a like-for-like 17% year on year rise in profit for the six months to March 31. Revenue for the half year was £78.3m, compared with £79.2m on a like-for-like basis a year ago. Advertising revenue was up 4% in constant currency, while online advertising was up 31% and now… Continue reading Future Reports Rise In Profit

Daily Mail and General Trust has reported a rise in pre-tax profits to £144 million in the six-months to March 30, with revenue rising 5% to £1.17 million. Associated Newspapers, DMGT’s national newspaper division, produced saw operating profits dip 1% in a tough market while advertising revenue was up by 4%. Advertising revenues were up… Continue reading DMGT Profits Rise