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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

Virgin Media has appointed Neil Berkett to the role of chief executive officer and announced the resignation of its chief financial officer, Jacques Kerrest.Burkett, who been acting chief executive officer since the resignation of Steve Burch in August 2007 (see Virgin Media CEO Steps Down), will also be joining the board of directors.Kerrest, who joined… Continue reading Virgin Media Appoints Chief Executive

Neil Berkett has been appointed chief executive officer of Virgin Media while chief financial officer, Jacques Kerrest, is resigning from his post. Burkett, who has been acting chief executive officer since the resignation of Steve Burch in August 2007 (see Steve Burch Steps Down As Virgin Media CEO), will also be joining the board of… Continue reading Virgin Media Appoints Chief Executive

ITV’s 2007 results show that the broadcaster’s revenues from premium rate services were down by £58 million, following the phone-in scandals that rocked television. In its full year statement released today, ITV said that its total revenues in 2007 were £2.08 billion, a year on year fall of 5%. The broadcaster’s profits were £188 million,… Continue reading ITV Reveals Premium Rate Revenues Fall

Five’s revenues reached €499 billion (£383 million) in 2007, a year on year rise of 7.1%. Five parent company RTL said that the channel’s earnings before interest, tax and amortisation were £10 million (£7.69 million). Five group’s share of the net advertising market increased from 8.8% in 2006 to 9.3% in 2007, fuelled by sales… Continue reading Five Revenues Reach €383m

Johnston Press saw a 6.3% fall in profits in 2007, with print advertising falling 2.1% year on year to £401.5 million. The regional newspaper publisher said that while it expects strong digital growth in 2008, a “general lack of confidence” in the advertising markets will be a major influence in 2008. Motoring ads saw the… Continue reading Johnston Press Profits Fall

Global Radio has made a third and “final” offer for GCap Media, valuing the Capital Radio and Classic FM owner at £370 million.The offer, at 225p a share in cash, is conditional on the recommendation of the board. The offer is around 20% higher than Global’s original offer in December of £313 million.GCap has now… Continue reading Global Radio Makes ‘Final’ £370m Offer For GCap

Global Radio has made a an offer of 225p per share in cash for GCap Media, claiming this is the company’s third and “final” offer for the radio giant. This offer, which is conditional on the recommendation of the board, values GCap at £370 million and is around 20% higher than Global’s original offer in… Continue reading Global Makes Final Offer For GCap

Global Radio is reportedly on the verge of walking away from a takeover of GCap, following the rejection of its improved £333 million offer last week.It is understood that Global does not want to overpay for GCap and is waiting to see whether new chief executive Fru Hazlitt’s strategy for turning the company around pays… Continue reading Global Radio Could Walk Away From GCap