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Facebook has reportedly offered £41 million to buy Chinese social networking site Zhanzuo.com. The Chinese website is one of the largest social networks in China, with an estimated seven million users, many of whom are college students. The move would give Facebook a ready-made entry into the largest internet market outside the US, and would… Continue reading Facebook Looks At Entering Chinese Market

Minority shareholder in Independent News & Media, Denis O’Brien, has renewed his call for the company to sell The Independent newspaper and has demanded the resignation of Sir Anthony O’Reilly as chief executive. O’Brien, an 11% shareholder in the company, first called for the sale of the company’s loss-making title, along with a host of… Continue reading O’Brien Calls For The Sale Of The Independent

Emap has sold its two main pension schemes to insurance company Paternoster, in a deal that removes an important obstacle for the break up of the media giant’s business assets. The deal transfers all financial risks and liabilities to Paternoster and makes Emap’s plans for a sell-off of its consumer magazines, radio and professional publishing… Continue reading Emap Pension Scheme Sale Removes Obstacle For Break Up

Trinity Mirror, publisher of the Daily Mirror, has reported a marginal year on year increase in advertising revenues in the 10 months to the end of October. Group advertising revenues for the period were up 0.1% on a like for like basis, reflecting a decline of 1.5% for the first six months of the year… Continue reading Trinity Mirror Reports Slight Upturn In Ad Revenues

Google’s purchase of online ad-serving company, DoubleClick, is to be investigated more extensively, after the European Commission announced it was taking the rare step of instigating a second-phase review of the $3.1 billion deal. The European Commission’s Competition Unit will investigate in greater detail (see Google DoubleClick Deal Under Pressure From Consumer Group) whether a… Continue reading DoubleClick Purchase Under Further Scrutiny

Emap has reported that pre-tax profit in the six months to the end of September fell 16% year on year to £80 million while revenues were down 1% on an underlying basis to £386 million. However, Emap executive chairman Alan Cathcart said the company was “on track” to deliver against expectations for the full year.… Continue reading Emap’s Pre-Tax Profits Drop 16%

Media and business information company, United Business Media, has ruled itself out as a potential bidder for Emap’s £1.5 billion B2B division. The company, which owns Music Week, Building, Property Week, Dalton’s Weekly, Travel Trade Gazette and Pulse, has been focusing on developing its news distribution and B2B division, setting aside up to £500 million… Continue reading UBM Will Not Bid For Emap’s B2B Division

Emap revealed today that those who have bid for its business-to-business section should consider buying the Emap plc title. The company said: “As part of the review process, Emap is asking those parties interested in acquiring its B2B division to consider including the acquisition of Emap plc in their proposals, should an outcome of the… Continue reading Emap Asks Bidders To Consider Buying Emap Plc Title

BT has reported pre-tax profits of £1.5 billion for the second quarter, up 2%, with revenues of £5 billion, up 3%. Its second quarter earnings were up by 2%, boosted by growth in its networked IT services and broadband. The telecoms giant had 11.7 million wholesale broadband connections (DSL and LLU) at the end of… Continue reading BT Announces Q2 Results

AOL has acquired online advertising company Quigo, in a deal that could be worth over $300 million, according to AOL chairman and CEO Randy Falco, who was speaking at yesterday’s IAB Engage 2007 conference in London. Quigo has developed online advertising technology that makes it easier for people to receive targeted ads. Falco said that… Continue reading AOL Buys Targeted Ad Company In $300m Deal