More Media Business articles

Shares in ITV fell briefly below 60p for the first time earlier today, following the stock’s fall to a closing low last night. This morning, the share price fell as low as 59.7p, down 1.6% on last night’s close of 60.7p, before increasing to 60.1p just after 11.30am. Over the past six months, the FTSE… Continue reading ITV Shares Drop Below 60p

Ashley Highfield, the BBC’s head of online, is leaving the corporation to become chief executive at the planned on-demand service from BBC Worldwide, Channel 4 and ITV, codenamed Kangaroo. Highfield, director of future media and technology and a member of the BBC executive board, is to take over at Kangaroo from interim chief executive Leslie… Continue reading Highfield To Join Kangaroo

The advertising industry’s business model is outdated and must change as it faces increasing competition from the likes of Google, Microsoft and Yahoo!, according to Maurice Levy, chief executive of Publicis Groupe.Speaking at an advertising industry conference sponsored by the International Advertising Association, Levy said: “The very model of our industry is being called into… Continue reading Ad Industry Must Change, Says Maurice Levy

News Corporation has acquired a majority stake in the UK’s video ad network Utarget, which will be merged with Rupert Murdoch’s existing online ad network .Fox Networks. Utarget will be rebranded Utarget.Fox and will work with the Fox Interactive Media Audience Network, which like .Fox Networks is part of Fox International Channels. As part of… Continue reading News Corp Acquires Majority State In UK Video Ad Network

Negotiations with Richard Branson over the rights to the Virgin brand are delaying the sale of Virgin Radio to Absolute Radio. The possibility is also emerging that the Virgin stations may be rebranded, with ‘Jack’, the name of Absolute’s Oxford station, one of the suggestions. It is understood that once an interested party reached the… Continue reading Virgin Radio Could Be Rebranded Under Absolute

Microsoft has told Yahoo! that it plans a hostile takeover bid if the company does not agree to a merger in the next three weeks. Microsoft wants Yahoo! to accept its $31 (£15.50) a share bid or the software company will approach the internet firm’s shareholders directly. Microsoft warned it may lower its price if… Continue reading Microsoft Gives Yahoo! An Ultimatum

SMG, owner of Virgin Radio, has reported a fall in total revenues for 2007, down £7.2 million to £184 million. SMG said that this fall was mainly due to the sale of its outdoor advertising division Primesight (see SMG Confirms Primesight Sale). The company reported a near doubling in profits for Virgin Radio, up 87%… Continue reading SMG Sees Total Revenues Fall

The European Commission has opened an investigation into a planned government grant worth £14 million, intended to help Channel 4 complete the switch to digital TV.A report on MediaGuardian.co.uk says that Channel 4’s subsidy will be investigated by the commission to see whether it breaches European Union rules on state aid and would distort competition.In… Continue reading EC Investigates Channel 4 Switchover Grant

Absolute Radio has been selected as the preferred bidder to acquire Virgin Radio from Scottish media group SMG. According to a report in today’s Daily Telegraph, Absolute is believed to have made a cash offer and will enter talks with Sir Richard Branson’s Virgin Group, which must approve the deal and the continued licensing of… Continue reading Absolute Selected As Virgin Radio Preferred Bidder

GCap Media has accepted a £375 million takeover bid from rival company Global Radio.Global Radio, headed by former ITV chief executive Charles Allen, will pay 225p per share, with the conclusion of the deal last night heralding an end of four months of negotiations.Global made a first bid for GCap in December, of 190p per… Continue reading Global Radio To Acquire GCap For £375m