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Independent News & Media has reported an 8.4% rise in UK operating profits for 2007. The group, which owns the Independent, Independent on Sunday and Belfast Telegraph, saw its operating profit increase to €15.5 million (£12.1 million). Revenue in the UK increased 18.3% to €268.1 million (£210 million), with advertising growth of 5.5%. The Independent… Continue reading Profits Up At Independent News & Media

WPP has announced that it expects revenue to grow by around 6% this year, driven by the Olympic Games in China. The group also predicts that the US elections and the Euro football 2008 football tournament will drive major growth at the company. Last month, WPP reported a pre-tax profit of £817 million following 5%… Continue reading WPP Expects 6% Revenue Growth

BT has appointed former BBC policy adviser, Simon Milner, as its first head of media and convergence, as the telecoms giant makes further moves into television and online.The appointment is aimed at enhancing BT’s policy leadership and helping it to play a full role in converging communications and media markets.Emma Gilthorpe, group director of industry,… Continue reading BT Appoints Convergence Director

Aegis, the media buying and market research group, has reported 17.6% growth in pre-tax profit to £133.5 million for 2007. Aegis’ media division, made up of agencies Carat and Vizeum, won $1.67 billion of net new business last year and increased revenues by 13% to £673.4 million. Synovate, Aegis’ market research business, increased its revenues… Continue reading Aegis Reports 17.6% Profit Growth

GCap Media has acquired a majority stake in local social networking website welovelocal.com for £450,000.The deal will also see GCap pay for the existing cash in the company and will make further staged payments of £150,000 in total to the vendors as deliverables are met over the coming weeks.The welovelocal.com site helps people find the… Continue reading GCap Acquires Majority Stake In Local Social Networking Site

Last week in the City, UTV, the owner of talkSPORT, reported a 2% increase in group revenues for 2007, to £115.6 million.The company’s operating profit, including associate income and before exceptional charges was up 5% from £24.8 million in 2006, to £26 million (Full Story).JCDecaux reported worldwide revenues of more than €2 billion (£1.5 billion)… Continue reading Media In The City: UTV Reports 2% Increase In Revenues

GCap Media has acquired a majority stake in the local social networking website welovelocal.com for £450,000. welovelocal.com helps people find businesses in their area by reading reviews and sharing their recommendations. GCap will combine welovelocal.com’s highly engaged online audience with its own network of local radio brands to enhance the broadband strategy announced by chief… Continue reading GCap Buys Majority Stake In Local Social Networking Site

JCDecaux has reported worldwide revenues of more than €2 billion (£1.5 billion) for 2007, up 2.8% from 2006. The billboard giant’s organic revenues growth, excluding acquisitions and the impact of foreign exchange, was 8.8%. In a trading statement, JCDecaux said that its UK billboard business posted double digit growth in profit margin last year. However,… Continue reading JCDecaux Reports Worldwide Revenues Of €2bn

UTV, owner of talkSPORT, has reported a 2% increase in group revenues for 2007, to £115.6 million. Operating profit, including associate income and before exceptional charges was up 5% from £24.8 million in 2006, to £26 million. Radio operating profit was up 21% at £14.5 million for the year, while television operating profit was down… Continue reading UTV Group Revenues Increase 2%

AOL is to buy leading social networking website Bebo in an $850 million (£417 million) cash deal. Bebo, founded by Michael and Xochi Birch in 2005, claims to have 11.4 million unique users in the UK and a total membership of more than 40 million worldwide. AOL said that the deal would give it a… Continue reading AOL Buys Bebo For $850m