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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 worldwide membership of more than 40 million.In a statement released this afternoon, AOL said that the deal would… Continue reading AOL To Buy Bebo For $850m

Clear Channel Outdoor UK has promoted group sales director, Rob Atkinson, to the position of UK managing director, with responsibility for driving the expansion of the company in Britain.Atkinson will report to regional president for the UK, Ireland and North Africa, Barry Sayer, and will be in charge of promoting greater synergy across all areas… Continue reading Clear Channel Outdoor Promotes Atkinson To UK MD

GCap Media’s plans to sell off Digital One, its DAB digital radio multiplex, have reportedly been put on hold as it continues talks with Global Radio about a possible acquisition. Last week, GCap resumed talks with Global Radio after Global made a third and “final” offer for GCap Media, valuing the Capital Radio and Classic… Continue reading GCap Puts Plans To Sell Digital One On Hold

The European Commission has given Google unconditional approval to go ahead with its £1.55 billion takeover of online advertising network DoubleClick. Following an investigation which began last November (see ITV Welcomes Ofcom’s Public Service Proposals), the commission found that the merger would be unlikely to have harmful effects on consumers. Third parties such as Microsoft… Continue reading Google Gets EU Approval For DoubleClick Takeover

The European Commission has approved Google’s £1.55 billion takeover of online advertising network DoubleClick.Following an investigation which began last November, the commission found that the merger would be unlikely to have harmful effects on consumers.Third parties such as Microsoft had complained that the merger, which has already been approved in the US by the Federal… Continue reading Google Gets EU Approval For DoubleClick Takeover

Global net TV advertising revenues will reach US$123 billion in 2008, up 5.8% on 2007, according to a new report from Informa Telecoms & Media.From this 2008 total, net pay TV advertising will bring in US$18 billion, a figure which has doubled over the last five years. Pay TV will represent 15% of total TV… Continue reading Net TV Ad Revenues Forecast To Rise

Freeview has revealed that sales for 2007 hit an all-time high with 9.7 million Freeview branded products sold, up 64% year-on-year. The Gfk Q4 figures also show the success of Christmas sales with 3.8 million purchases, Freeview’s best quarterly figures to date. Freeview Playback, which now accounts for half of the total digital TV recorder… Continue reading Freeview Sales Hit All-Time High

French marketing services company Havas has reported a 39% year-on-year increase in operating profit to €168 million (£128 million) for 2007. Havas, which owns media agencies Euro RSCG, Media Planning Group and BLM, also posted a rise in net income of 81% to €83 million (£63.3 million). It recorded 9.8% organic growth in the Q4… Continue reading Havas Reports 39% Rise In Operating Profit

Regional media business Archant has announced a 3.4% increase in operating profits to £30.5 million for the full year 2007. In a preliminary statement to shareholders, chairman Richard Jewson identified strengthening advertising revenues, continued progress in the magazines business, and tight cost control as contributors to increase in operating profits, despite the sale of its… Continue reading Archant Announces 3.4% Operating Profits Increase

A consortium of four private equity groups is preparing a bid for Virgin Media worth between $6 billion and $7 billion, according to a weekend report. A report in the Observer said that a private document titled ‘Project Coaxial’ shows that Blackstone, Cinven, KKR and Providence are prepared to approach Virgin Media. The consortium is… Continue reading Private Equity Consortium Prepares Virgin Media Bid