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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

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… Continue reading Global Radio To Acquire GCap For £375m

GCap Media said in a trading update released today that its total revenues are forecast to increase by around 4% for the year ending 31 March 2008, with a forecast increase of 4% year on year for the quarter ending 31 March 2008. Within this, like for like radio advertising revenues are forecast to be… Continue reading GCap And Global Radio Talks Continue

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