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Omnicom Group has announced that net income for the fourth quarter of 2007 increased 13.2% to $313.9 million from $277.2 million in the fourth quarter of 2006. Worldwide revenue increased 12.7% to $3,626.0 million, from $3,216.2 million in the fourth quarter of 2006. Domestic revenue for Q4 increased 9.5% to $1,845.9 million compared to $1,685.1… Continue reading Omnicom Posts Revenue Increase

Global Radio, which made a £313 million bid for GCap Media in December, said yesterday that it is keeping its options open regarding another bid. GCap rejected Global’s original bid saying that it “significantly undervalued the company” (see GCap Turns Down Takeover Bid From Global Radio). In a statement to the City last night, Global… Continue reading Global Radio Could Return With GCap Bid

Four groups were expected to submit first round bids for Virgin Radio by today’s deadline. Bidders for the SMG owned station are understood to include Charles Allen’s Global Radio, UTV (see UTV Could Bid For Virgin Radio) and private equity firm Vitruvian Partners. Global Radio bought Chrysalis’ radio division, including the Heart and Galaxy brands,… Continue reading Deadline For Virgin Radio Bids

Yahoo! has acquired online video platform provider Maven Networks for $160 million in order to expand consumer video and advertising experiences on Yahoo!.com and Yahoo!’s network of premium video publishers. Yahoo! said that it intends to invest in the growth of Maven’s overall video business, continuing to provide premium publishers with both publishing and new… Continue reading Yahoo! Acquires Maven Networks

The Audit Bureau of Circulations and the National Readership Survey have initiated exploratory talks about possible areas for closer collaboration and co-operation.“Since both organisations have significant areas of overlapping interest in the newspaper and magazine markets it seems appropriate to initiate such a debate in order to ascertain whether there may be any benefits in… Continue reading ABC And NRS In Possible Collaboration

Yahoo! could be about to restart merger talks with AOL as it seeks to fend off Microsoft’s $45 billion (£23 billion) hostile takeover bid.According to a report in today’s Times, Yahoo! and its advisers from US investment banks Goldman Sachs and Lehman Brothers have spent the past week looking at possible tie-ups with other firms.The… Continue reading Yahoo! Could Restart Merger Talks With AOL

Yahoo! has turned down Microsoft’s $45 billion (£23 billion) takeover bid, saying that it substantially undervalues the company.However, a deal could still go ahead if Microsoft returns with an improved offer.In a statement released this afternoon, Yahoo! said: “After careful evaluation, the board believes that Microsoft’s proposal substantially undervalues Yahoo! including our global brand, large… Continue reading Yahoo! Turns Down Microsoft Takeover Bid

It was another big week for media news in the City, with reports that Google had approached Yahoo! about a possible link-up to fend off Microsoft’s advances.At the start of the week Google raised objections to Microsoft’s $44.6 billion bid for Yahoo!, saying that a takeover would create a business with an overwhelming share of… Continue reading Media In The City: Google Approaches Yahoo! About Possible Partnership

Yahoo! is reportedly seeking to restart merger discussions with AOL in a bid to fend off the $45 billion (£23 billion) hostile takeover bid from Microsoft. A report in today’s Times says that the internet giant and its advisers from US investment banks Goldman Sachs and Lehman Brothers have spent the past week looking at… Continue reading Yahoo! Could Restart Merger Talks With AOL

GCap Media’s chief executive, Fru Hazlitt, has confirmed the intended sale of the group’s majority stake in Digital One, and a move away from DAB digital radio. The “radical but realistic” sets of measures are intended to boost profits and maintain long term growth for the company, which include the closure of some digital stations… Continue reading GCap Media Unveils “Radical” Profit Boosting Measures